A big part of the "Transformative Growth" was Allstate making millions selling off real estate assets and buildings. With the pandemic and move of philosophy of more remote and home based functions many other companies and industries went with this same plan. The problem is when everyone does it there is no market for commercial real estate and there are no buyers. So the vast majority of real estate Allstate hoped to sell off and make money off of sits vacant with lower values due to no market for it. Commercial real estate sales is as stagnant as ever with mostly sellers and very few buyers.
With Allstate once again and striking out on yet another poorly planned and executed endeavor where do they make this planned money now? Surely they can't raise premiums as they have already overpriced themselves out of market share the last several years. Do they start selling off more of the company? Do they aimlessly try to enter another industry as part of the corporation? Do they get desperate and go forward with more mass layoffs even where it is not feasible?