4 ms·

Reduced cost of living. Lots of my neighbors have relatives that have moved-in recently. Houses are becoming more multi-generational/multifamily.

• gpm 6y ago
  > Lots of my neighbors have relatives that have moved-in recently. I haven't noticed this with my neighbors (I'm not sure I would), but amongst my friends and myself I can definitely second this. It does make me wonder about this line > The real estate market has been red hot after an initial slowdown during quarantine: (Median house prices) Maybe it's the case that predominantly rich people are buying/selling right now?
  • slowbait 6y ago
    Or families are expanding as relatives are moving in?
    • gpm 6y ago
      Hmm, maybe, several apartments merging to one house could explain it. If so that bodes ill for apartment-building-owners.
  • endogui 6y ago
    From my personal contacts, it seems that those who can afford it are now moving out of the cities or acquiring rural "vacation" homes. The people I know who are buying are all upper managers or higher in salary.
  • mleo 6y ago
    Our Southern California beach city has seen 60% increase in home sales over last year and the median price is on more higher priced homes than is typical. These are almost all single family homes with space. If you have to work from home, it is nice to have an extra bedroom or dedicated office.