On The Market 25: How Work-From-Home “Hotspots” Drove the Housing Market Even Higher
What do work-from-home employees and the housing market have to do with each other? Surprisingly, a lot. At the start of 2020, as the first lockdowns were rolling in, many companies made the wise decision to allow their workers to temporarily work-from-home. As temporary became seemingly eternal, more employers started developing permanent work-from-home regulations, allowing employees to, on average, work at their residence for about half of the workweek.
With this enhanced flexibility, employees were more likely to move to places their jobs didn’t confine them to. If they were used to snow and sleet, they may have moved to Arizona, Texas, or Florida. If they were stuck in urban areas like New York City and San Francisco, the more suburban allure of Boise, Denver, or Raleigh pulled them even closer. Now, these high-paid, location-flexible workers were on the hunt for houses. And as a result, home prices skyrocketed while affordability plummeted.
It’s becoming more and more evident how much of an impact remote work plays on the housing market, but what can landlords do with this information? Dave has already dug through the research so you don’t have to, and he brings on this show three factors of a work-from-home “hotspot” that could forecast big home price appreciation. These three factors could point you on the path to buying in the nation’s next best real estate market!
In This Episode We Cover
The latest remote work trends and whether or not working from home is here to stay
How work-from-home policies have affected productivity in the workplace
The three factors of a work-from-home “hotspot” that could explode in popularity
How more remote workers affect the housing market, migration, and home prices
Whether or not a recession could end the work-from-home movement and force workers back into the office
The real estate markets that are starting to cool after huge home price appreciation
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Find an Investor Friendly Agent in Your Area
The Do's and Don'ts of Returning to the Office by Adam Grant
NBER: Pandemic-Induced Remote Work and Rising House Prices
Listen to Our Episode with Redfin’s Taylor Marr
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-25
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