Since about March of 2020 many of us have been working from home as a health precaution to fight the pandemic that is claiming lives. After 9 months or so can we say that it has helped in the spread of the virus and is working out well?
It may be helping to slow the spread of the virus but the other “benefit” is that will less travel on the roads it would also help with another problem….that of climate change.
So the next question is …..does the home from home help slow climate change?
This study has come out of California…..
A year from now, what will your Monday morning look like?
After your umpteenth consecutive weekend hugging your mother, your friends and complete strangers in poorly ventilated spaces, do you picture yourself pouring coffee in your thermos to begin your bleary-eyed commute into work? Or are you about to begin your bleary-eyed all-staff on the morning Zoom?
The answers to those questions will depend on your job, your income level, your employer and, if you’re lucky enough, your preference. They will also dictate whether the next decade of California’s housing affordability crisis looks radically different from the last.
Within a matter of months, the pandemic-necessitated rise in teleworking has inverted parts of the state’s real estate market in ways housing economists never imagined possible. The median rent in San Francisco has dropped nearly 25% since stay-at-home orders began in March. Oakland, Los Angeles and San Diego have also seen rents drop or at least taper, instantly flattening a decade-long spike.
As younger professionals flee overcrowded and overpriced apartments in urban cores, rents and home prices in many suburbs, exurbs and mid-size cities have shot up significantly.
Fresno, Bakersfield and Chula Vista, a San Diego suburb, have seen some of the biggest post-pandemic rent increases in the country. The median price of a single family home in California set an all-time-high of over $700,000 four months ago, with some of the steepest increases in the Inland Empire and Central Valley.
With the prospect of widespread vaccination on the horizon, private employers, local governments, urban planners and state officials are reluctantly playing the role of housing crisis Nostradamus: Is what we’re seeing in 2020 an aberration or a new normal?
Whatcha think? Good or ineffective?
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