The thing I don't understand is typically we shouldn't buy a house if we don't intent to live there for at least five years. So for all these people that have bought houses during covid for reasons such as working from home and needing more space, do they just assume they can WFH in the next five years and won't miss the urban lifestyle?

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I’m hoping they didn’t think things through and try to dump at a loss to me in the next year or so!

likefunnysmart

Was just saying this the other day lol, I think like 50% of people will be back to an office in the city more than they think and jump ship

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I for one don’t plan to go back to the 100% travel life. If the job tries to force me back into that life, time for a new job.

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I dont get the question.. demand in "urban" areas not named NYC skyrocketed too. It wasnt just people buying in the burbs

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My take is people who want to start a family will move to suburb any way and have a longer commute. Covid definitely speed up the decision making process. Also some people bang on the fact that they can have more flexible schedule for the next 5 years as long as a lot of people now prefer the more hybrid approach (wfh 3 days a week for instance)


It won’t be the end of the cities though as new young crops will move to cities as there will be more fun / opportunities.

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Another consideration could be future interest rates and inflation.

I’m not doing it, although I can afford it. I’m sick of the big city and high property taxes (DFW) and am only continuing to live there because my firm requires it. Once I leave I’m going back to my neighboring home state where both property values and taxes are lower.

Ehh.. Im in Austin with 2.2% prop tax plus MUCH higher property values than DFW and I still come out far ahead vs paying 5.4% income tax and 0.9% prop tax on lower prop values in my previous state

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