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"The Weirdest Housing Market in Recent History"
Plain English with Derek Thompson
Housing Demand Increase Due to Work from Home
The COVID-19 pandemic initially sparked concerns and uncertainty in the housing market, leading to a brief slowdown in real estate activities. However, soon after, there was a significant increase in housing demand driven by the shift to remote work. This surge in demand was not just witnessed in popular remote-work destinations like Boise and Austin but was also notable in cities like San Francisco and New York. Even though some urban areas experienced a decline in population, there was a rise in the demand for larger living spaces as individuals sought more room and separation, resulting in a net increase in the overall demand for housing and space.
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