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Well, rents in big cities have dropped significantly as remote work has taken over: https://zumpermedia.s3.amazonaws.com/blog/wp-content/uploads/2021/08/1814123

Well, rents in big cities have dropped significantly as remote work has taken over: https://zumpermedia.s3.amazonaws.com/blog/wp-content/uploads/2021/08/18141234/QuarterlyrentreportAug2021-04-1-1536x804.jpg https://zumpermedia.s3.amazonaws.com/blog/wp-content/uploads... . Then again, rents in secondary cities like Austin and Boise have increased: https://www.kvue.com/article/money/economy/boomtown-2040/austin-rent-rates-apartment-list-report/269-8c004a52-a30e-447b-8a50-1063fe28b83e https://www.kvue.com/article/money/economy/boomtown-2040/aus..., https://boisedev.com/news/2021/07/28/boise-rent-prices-up-39-percent-since-last-march/ https://boisedev.com/news/2021/07/28/boise-rent-prices-up-39.... So, as always, "it depends." But this doesn't seem driven by poor people getting money from the government; it does seem related to affluent remote workers fleeing coastal cities. I have to doubt that recipients of pandemic benefits are the ones buying $800k houses and driving the housing boom.

zbobet2012 5y ago
Yes, this is accurate. Housing prices are at historic highs in many non-core cities as demand from covid related changes move high income earners and historically low interest rates allow low monthly payments. A million dollars in financed money is under 4000$ a month in payments. Many, many couples can afford this. About twenty percent of all income earning couples in the us can afford this. https://www.vox.com/22524829/wall-street-housing-market-blackrock-bubble https://www.vox.com/22524829/wall-street-housing-market-blac...
- kodah 5y ago
  > Housing prices are at historic highs in many non-core cities as demand from covid related changes move high income earners and historically low interest rates allow low monthly payments. Things were already going this way. When I left Dallas housing was nearly unaffordable anywhere near the city (where most jobs are) at $110k/year. This was directly caused by comparatively rich people on the coasts getting disillusioned and moving to cheaper areas and folks who can't afford the coasts in the first place moving to cheaper areas. It turned supply and demand upside down, and it destroyed the ability for people who grew up in those areas to have a stake in the city. Why people care about it now is beyond me. The only difference I see that it's not comparatively rich people anymore, it's actual rich people that are moving.

zbobet2012 5y ago

Yes, this is accurate. Housing prices are at historic highs in many non-core cities as demand from covid related changes move high income earners and historically low interest rates allow low monthly payments. A million dollars in financed money is under 4000$ a month in payments. Many, many couples can afford this. About twenty percent of all income earning couples in the us can afford this. https://www.vox.com/22524829/wall-street-housing-market-blackrock-bubble https://www.vox.com/22524829/wall-street-housing-market-blac...

kodah 5y ago
> Housing prices are at historic highs in many non-core cities as demand from covid related changes move high income earners and historically low interest rates allow low monthly payments. Things were already going this way. When I left Dallas housing was nearly unaffordable anywhere near the city (where most jobs are) at $110k/year. This was directly caused by comparatively rich people on the coasts getting disillusioned and moving to cheaper areas and folks who can't afford the coasts in the first place moving to cheaper areas. It turned supply and demand upside down, and it destroyed the ability for people who grew up in those areas to have a stake in the city. Why people care about it now is beyond me. The only difference I see that it's not comparatively rich people anymore, it's actual rich people that are moving.