The glut is in neighborhoods with condo towers, particularly where the construction boom has been. Neighborhoods with low-rise buildings are less impacted.
Unemployment and work-from-home or work-from-anywhere are massively shifting where people want to live.
Work-from-anywhere, unemployment crisis, oil bust, people chasing a cheaper less crowded place to live, the land rush to buy homes.
There’s a housing shortage until there’s suddenly a housing glut: see San Francisco et al.
As after the last crisis, fueled by ultra-cheap money, they’re taking financialization of the housing market to the next level (transcript of my podcast).
There is a “housing shortage” and an “inventory shortage” until there suddenly isn’t.
As after the last crisis, fueled by ultra-cheap money, they’re taking financialization of the housing market to the next level.
New York City, San Francisco Bay Area are the big losers. The great 2020 exodus raises the question: Will the techies ever return?
Work-from-anywhere, unemployment, the land rush for houses, virus-fears about elevators, the oil bust: Big shifts for the fifth month in a row.
But the median price declined. Households paying for office space to work from home?