Concerns for falling / rising rental market costs in america (post-COVID)

All through the pandemic, consumption habits have modified in numerous methods. And these modifications are seeping into the US rental actual property market.

With many employees nearly commuting, industrial and residential actual property has undergone modifications.

In San Francisco, costs for one-bedroom house leases are down about 19% year-on-year. The story was not the identical nationwide, with some cities / markets having seen rental costs rise over the previous 12 months.

With many staff working from house, being near the office has turn out to be much less essential. Digital and hybrid work environments have turn out to be extra acceptable, with some corporations asserting everlasting make money working from home insurance policies.

This has modified the quantity of people that resolve the place to dwell, resulting in migrations between cities throughout the nation. This raises the query of how highly effective community results in key areas (eg Silicon Valley) actually are. Cities equivalent to Miami have turn out to be common locations amongst gamers within the tech or VC house.

Going ahead, it will likely be fascinating to see whether or not these actions are short-lived or long-lasting, and the implications this has for the workforce of tomorrow.

Twitter: @_SeanDavid

The writer or his firm could maintain positions within the titles talked about on the time of publication. All opinions expressed listed below are solely these of the writer and don’t symbolize the views or opinions of another individual or entity.

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