Short Term Rental Riches 41. Unanticipated Changes in Housing (From COVID-19)
Aug 25, 2020
The pandemic has reshaped the housing landscape in surprising ways. People are seeking larger living spaces as remote work becomes more common. Increased divorce rates and shifting roommate dynamics are also altering demand. Plus, there’s the intriguing possibility of a baby boom influencing future housing needs. Join in to explore these unexpected trends that could redefine your understanding of the market.
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Roommate Separation Boosts Housing Demand
- COVID-19 lockdowns led many roommates in high-cost areas to seek separate housing, doubling demand.
- This unanticipated demand surge could significantly affect housing markets in dense cities.
Remote Work Drives Home Office Demand
- Remote work persistence increases the need for home office space.
- Buyers now prioritize finding homes with dedicated office areas post-pandemic.
Social Changes Influence Housing Market
- COVID may also impact housing through increased divorces and a possible baby boom.
- These social changes further shift supply-demand balance, affecting market values.