Research shows increased remote work has driven up home prices
The pandemic sent millions of Americans in certain employment sectors into their home offices to work on their computers and connect to meetings via Zoom or similar technology.
A new working paper from the National Bureau of Economic Research called “Housing Demand and Remote Work” says that is a significant factor in the rising price of homes. In fact, the researchers concluded remote work may have caused more than half of the jump in real estate prices.
John Mondragon is one of the researchers and is the research advisor for the Federal Reserve Bank in San Francisco.
The Show spoke with him about the jump in prices, and he began by explaining the premise of his conclusions that connect remote work and housing prices.