Typically economic downturns put a damper on real estate, but just like with everything else associated with the COVID-19 pandemic, nothing has progressed as one might expect. A de-urbanizing trend appears to be coalescing across the US as full-time employees continue to work remotely. The Wall Street Journal reported on June 17th, “All told, at one point in April, Americans were relocating at twice the pace they did a year earlier.”
Mark Zuckerberg, Facebook’s chief executive, announced via livestream to his staff that within a decade as many as half of the company’s 48,000 employees would work from home. Facebook will most likely just be the first of many to switch from the live-at-your-office paradigm to a work-where-you-live paradigm.
This has given a place like Aspen a whole new layer of appeal for longterm rentals and/or permanent changes of address. That said, exactly how many people are actually going to pull the trigger and move remains to be seen.
