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Originally Posted by mswlogo
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.
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I agree that this trend will continue for long into the future. The office building market will have a glut of vacancies because, as stated above, employers found out that working from home, works well. And, there are no snow days!
People working from home are enjoying sleeping a little later and finding that they are putting substantially fewer miles on their cars and saving on gasoline.
This is a national movement of people getting away from the big cities and that lifestyle. It is estimated that 970 people a day are permanently moving to Florida. The Florida furniture stores and building material stores are having difficulty keeping enough inventory to meet the demand.
Real estate in the Lake's Region continues to be hot. A property listed for $550,000 two weeks ago in Gunstock Acres had 10 offers and sold for over $700,000 in a matter of days.
It’s not surprising that the most significant growth areas are in the South and Southeast, especially Houston and Dallas in Texas, Florida and the Carolinas.