I read a great article last week from Housing Wire on this topic. Here are some of the ideas from the article—
- The appeal of working from home or WFH will only increase when kids are back in school buildings as your home office will feel more like an office.
- Homes in centralized business areas will be less attractive to both owners and renters. Why pay huge amounts of money to live near work when you can work from anywhere?
- Thus, people will no longer be geographically bound and can live anywhere they choose.
- As of 2020 there was 32.45 million adults between the ages of 27 and 33 and these adults are reaching their peak first time home buying years. This means incredibly demand for housing. This fact ALONE will keep real estate markets very strong.
- Surveys show that employees believe they have the resources needed to be productive working from home. Additionally about 70% of managers are satisfied with the work performance of their home-bound employees.
Thus, I expect the suburbs and exurbs of metro Denver will continue to experience a real estate boom for years to come, while downtown Denver shrinks.