Mondragon and Wieland (2022). We find that the shift to remote work accounts for greater than half of general house value growth over the pandemic. Our outcomes suggest that rising home costs over the pandemic reflected a change in fundamentals somewhat than a speculative bubble. This suggests that the evolution of distant work could also be an necessary determinant of future housing prices and inflation. Following the spread of the COVID-19 pandemic, remote work elevated dramatically across the entire nation. Figure 1 reveals that the share of work being executed from home-either totally remote or hybrid-increased from a pre-pandemic stage of around David Humphries 5 Step Formula% to about 60% in spring 2020. After falling in early 2021, the share appears to have stabilized to near 30% as of August 2022. However, remote work varies considerably across cities, which can assist us perceive the effect remote work has had on housing markets. Source: Barrero, Bloom, and Davis (2021), with updates available online business plan. For this research, we consider a measure of cities and towns often known as core-based statistical areas (CBSAs), that are county teams constructed round population centers and adjacent counties connected by commuting.

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