Companies may want their workers “back at work” but housing costs make doing that prohibitive.

Housing Expensive Everywhere

Pre-pandemic, the most expensive real estate was in big cities, like San Francisco and New York, cities close to jobs.  Now, housing prices have skyrocketed in suburbs and exurbs of big cities.

According to the National Association of REALTORS® (NAR), more than two in three metro areas saw median home prices increase at least +10% in the last three months of 2021 from Q3 2021.  Over the past year, the median single-family home price rose +15% while median earnings rose by just +2.6% from one year ago.  (Remember too to factor in rising consumer prices and inflation to this mix.)

An important question for you.  2022 is here…have you completed your 2022 Real Estate Business and Lead Generation Plan? If not, no worries. We have done the hard work for you. Download your 2022 REAL ESTATE TREASURE MAP! Text HARRIS to 47372. It’s that simple and takes 3 seconds. Text HARRIS to 47372 and when you do we will instantly text you back with a link to download. BONUS: For a limited time when you text HARRIS to 47372 you will also receive a Coaching Call!

4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy:

Home prices in exurbs and suburbs have jumped some +30% from February 2020, according to Nicholas Bloom, an economics professor with Stanford University who studies remote work.  In city centers, home prices have increased about +5%.

Homeowners in exurbs who had searched for more affordable housing during the pandemic may be more than 80 miles from city centers and facing two or more hours of commuting to those city centers each way.  Now that their employers are calling them back from remote working to on-site workers, those workers are saying, “No thanks.”

Hybrid Work May Be the Win-Win

Bloom believes that hybrid working could work for everyone. Most professional workers indicate, according to Bloom the economist, they want to come into the office 2.5 days a week.  Hybrid workers could live farther away from the office in more affordable areas if going in just a few days a week and trade two or three “horrible days a week…for (living) far away with reasonable housing and good schools.”

Hybrid working would be less of a blow to downtowns because office workers would still be coming in a few days a week.  Most downtown restaurants, bars and other businesses could still make it but the threat to commercial real estate prices would still be there.

Urbanist Richard Florida agrees.  With fewer but still on-site office workers, central business districts could add more affordable housing, arts and cultural spaces, and what Florida calls “third spaces” where people can walk or bike to the amenities they want.

Service workers would still have jobs that cater to office workers but those service jobs may move to the periphery of metro areas where remote workers have moved.  With jobs in periphery areas, service workers too could live in more affordable periphery areas or in rural locations.

Tight Labor Market Favors Hybrid Workers

Currently, according to the Department of Labor, there are some 11M open jobs.  Employers who demand a return to the office may be on the short end of the stick.

A recent Pew study found that 61% of people working remotely are doing so by choice, not because their office is closed.  Pre-pandemic only 36% were working remotely by choice.

According to an analysis by the University of Chicago, more than a third of all jobs, not just ones performed by people with college degrees, can be done remotely.  When workers such as an assistant project manager for a Dallas construction company hears businesses call employees to return to office, those businesses may not realize how out of touch they sound with home prices up +30%, rents up some +16% and gas prices up +78% over the past two years.

What many of those workers say is, “I quit,” and two days later have another job lined up…a hybrid job.

URGENT: Are You Worried About Having A Slower Start To The Year? Don’t Hit The Panic Button, Learn How To Have Massive Success In A Shifting Market. When You Attend This Exclusive Training You Will Learn 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Claim Your FREE Spot Now. After You Have Attended This Event You Will Experience A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business And Lead Generation Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money In This Changing Market. Claim your FREE spot now. YES, I Want To Attend The FREE Webinar! <——Click To Register

P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.

Thanks to TIME.





Claim Your FREE Real Estate Treasure Map!