From Zoom Towns To Zoom Rooms: How Working From Home Is Impacting Real Estate
From LA to New York to San Francisco, employees have adapted to the pandemic by working-from-home and using Zoom to connect to colleagues and clients. This shift from a traditional office environment is having an unexpected impact on real estate, both in terms of the process of selling homes virtually and because people want to buy larger spaces to accommodate families locked-in together. In these ‘Zoom bubbles,’ real estate is either largely not affected by the economic downturn, or is booming. This trend does not hold true all over the country, however. In areas where residents can’t use Zoom to continue working and need to show up to continue earning as essential workers, real estate values are under pressure.
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