Home buyers are plotting move to country amid increased home working in America
US home building increased in June by most in 4 years. Many economists put increase down to people moving to suburbs and rural areas as companies allow employees to work from home. Coronavirus may create sea-change difference in how people live and work. Such a change could also help USA to be better prepared for the 4th Industrial Revolution.
Home buyers are plotting move to country amid increased home working in America
Coronavirus pandemic could bring forward the 4th Industrial Revolution in America
People used to working from home no longer want to work in the city. They have realised how wasteful and poorer they are financially and socially commuting into American cities. Real estate in the suburbs and rural areas is more affordable.
Conversely commercial property and residential property valuations in cities should fall. The future of real estate in America is uncertain but the repercussions from the coronavirus pandemic has changed the future in more ways than just health. The majority of Americans currently working from home would prefer to continue working from home post pandemic. Many would be prepared to take a cut in pay just to continue working from home.