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If remote work becomes permanent for a lot of people and/or social distancing lasts a long time, I would expect a number of changes to happen: - Homes with mor

If remote work becomes permanent for a lot of people and/or social distancing lasts a long time, I would expect a number of changes to happen: - Homes with more bedrooms will become significantly more attractive because people will want home offices (maybe one for each spouse!) - Homes with outdoor space will become more attractive - Quiet homes without noise from neighbors or the surrounding area will become more attractive - Proximity to public transit, freeways, and downtown areas will become less attractive as the drawbacks will exceed the benefits for most people All of this will tend to push buyers toward large suburban homes rather than apartments or condos. In the long term, I expect rents and sale prices for apartments and condos will drop for those reasons. House prices might even go up, relatively speaking, compared to prices for apartments and condos. What we are seeing right now is not that -- right now, what we are seeing is people unable to pay rent and landlords desperate for paying tenants.

jedberg 6y ago
I'm not sure remote work will drive much of that. Most families were already moving out of the cities into the suburbs. And young people want to be in the city for the social aspects and cultural aspects, and proximity to others. I think what we might see is an increase in demand for bigger units in the city as a young single person may want a two bedroom place, one for their home office and one for sleeping, but still want to be in the city to be near all the cultural and social amenities. And we'll also see increased demand for even bigger suburban homes as each spouse needs their own home office. So I think we'll see increased demand for larger homes in both the city and the suburbs.
- twblalock 6y ago
  I don't think very many of the social and cultural amenities of big cities will come back anytime soon. I think we are in for at least a year of social distancing and heavy restrictions on restaurants, bars, concert venues, sports arenas, etc. A lot of things that were previously considered amenities will now seem dangerous, such as public transit.
  - jedberg 6y ago
    In the short term yes. In the long term I think more remote work will stick around as the amenities return.

jedberg 6y ago

I'm not sure remote work will drive much of that. Most families were already moving out of the cities into the suburbs. And young people want to be in the city for the social aspects and cultural aspects, and proximity to others. I think what we might see is an increase in demand for bigger units in the city as a young single person may want a two bedroom place, one for their home office and one for sleeping, but still want to be in the city to be near all the cultural and social amenities. And we'll also see increased demand for even bigger suburban homes as each spouse needs their own home office. So I think we'll see increased demand for larger homes in both the city and the suburbs.

twblalock 6y ago
I don't think very many of the social and cultural amenities of big cities will come back anytime soon. I think we are in for at least a year of social distancing and heavy restrictions on restaurants, bars, concert venues, sports arenas, etc. A lot of things that were previously considered amenities will now seem dangerous, such as public transit.
- jedberg 6y ago
  In the short term yes. In the long term I think more remote work will stick around as the amenities return.