Quote:
Originally Posted by Descant
So, in a few months, Covid will taper off and the market bubble will burst. The new owners will go back to NJ or CT or where ever because it is too long a drive, and it will be rental again because previous tenants will keep calling to renew. Tough cycle to break. Good luck.
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That’s not what’s going to happen.
COVID opened the eyes of employers and employees that they can be more productive working from home.
Lot’s of people are moving out of the city, for good.
COVID also put a damper on public transportation, for long after the worst of COVID is over. Another reason to bail commuting to the city and just going remote. It’s also gonna make traffic worse for the ones that drive into the city.
A lot of people on the edge of retirement, decided to retire early.
It may not be as crazy as it was but I suspect the bubble won’t pop.
The people buying these homes are not the ones that lost their jobs due to COVID either.