One of the situations that is driving the stable-or-stronger real estate market is working from home. Employees with WFH privileges during the pandemic have discovered that “home” is not as well suited for “work” — especially if more than one member of the household is doing it.
Some WFH employees have solved the problem by moving into a bigger home, or leaving a rented apartment and becoming a first-time buyer. Often, to make it work financially, that means buying a home far from the employer’s bricks-and-mortar office.
It’s working, if you’ll pardon the expression.
What happens when the pandemic ends? Will those employees who have latched onto the WFH acronym be able (or allowed) to continue working from home? Was that guaranteed when they made the down payment on that new home? Or will they have to return to their former life, and be in an office? Or will there be a compromise — part-time at home, part-time in the office?
Interesting questions for the post-pandemic world, and the effects it will have on real estate when that time comes.
Any thoughts?