The pandemic real estate market

Bullitt

Well-known member
A few things here.

1. Taxes will be higher for those who decide to move out to "the sticks". It's not cheap to run new pipes, cable, electric to rural areas. You can't pay off taxes like a mortgage. Those are with you forever - and they never go down.
2. Sure, Amazon will deliver that cheap made in China TV in two days, but how long will it take for a plumber to come fix that backed up sump pump or clogged septic tank? Something tells me the majority of those making this move don't own a wrench.
3. As more people catch on to the momentous trend in moving away from the cities towards the great wide open, those sparsely populated areas will slowly become more densely populated.
4. Depending on which way some of these recent trends go (I refuse to call anything related to COVID a new normal... yet) this doesn't bode well for all those early 1900's brick buildings decaying in the city.

What buyers are looking for: Fresh air, backyards, home offices (for two adults), a homeschooling area, space for pets, home gyms — plus proximity to beaches, lakes, parks and bike paths.

"Preferences have moved from 'what's a prestigious location?' to 'what's practical?' and 'what's the quality of life we want for our households?'"

As more people do their grocery and household shopping online, proximity to retail stores is no longer a real estate priority.

https://www.axios.com/coronavirus-s...ket-3ee9dc49-d3c2-486d-8400-66a6cd1d1856.html
 
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