R. and I love to talk about migration. In the years leading up to the Great Recession, I contemplated the then-longstanding but still building trend to move into cities. I spent a ton of time laughing at people who told me I bought my condo on Capitol Hill at the peak of the market in 1997, and I would be lucky to get my money back out of it. I mean, sure, if you look at the opportunity cost associated with selling stock in a then very tiny and recently IPO’d startup to pay for it, yeah — I will never get my money back out of that condo. But that is a super ridiculous way to look at anything.
Anyway.
23 years later, there is a pandemic, and I am living in suburbia (after a stint in Southern New Hampshire small town, followed by a return to urban leaving on Jackson St, then back to SoNH, then finally to where I live now, in suburban Middlesex County in Mass) and I know I live in suburbia as a compromise between the quiet, dark rural that my husband prefers and the urban that I prefer, and to exploit our class position to get excellent school supports for our two special needs children. But for the very first time, I am _grateful_ to live in suburbia.
Also, for the first time, I am rethinking my pool opposition. I mean, owning a pool right now is fucking brilliant.
I am _never_ the first to think anything. I am a “second rank” sheep. I do not lead, but I am not within the vast bulk of the herd. I am towards the front of the crowd without actually leading, occasionally right at the edges of the herd doing something slightly odd but more or less keeping with the group. So: is everyone moving out of the city yet?
It is called, “The Great Reshuffling” and it arises out of a simple observation: you cannot go out to bars and children’s museums and the playgrounds and public pools and gyms are/were closed. It is better to have more space at home, now that everyone is _at_ home all the time. This is not about “space for a home office”. It is about space for two offices and space for more than one person to school from home, also, a workout space. And, ideally, a pool. And a playground. I am sure I have left something crucial out — a bigger and better kitchen with more pantry space, probably. Without upstairs, downstairs and side to side neighbors who you cannot yell at.
Link fu commences!
https://www.geekwire.com/2020/zillow-group-ceo-rich-barton-great-reshuffling-tectonic-shift-real-estate/
And
https://www.cnbc.com/2020/08/07/zillow-were-at-the-beginning-of-a-great-reshuffling-to-space.html
Zillow CEO thought going into the pandemic that sales would be down and they turned off their flipping operation. Well, it is turned back on now!
https://granolashotgun.com/2020/08/14/the-great-reshuffling/
Companies are saving $1000 / employee / month by having those employees work from home. And now those employees can save even more money moving out of town. Or, in some cases, save the same $1000/month just moving next door. Meanwhile, anyone who despaired of selling their rural property in BF nowhere finally has a chance to sell it to someone fleeing the city — maybe they can get a bidding war, if it is on a lake and has good wifi.
This blog entry at granolashotgun is particularly awesome, because it includes the backstory of how many people only moved to work in those coastal cities at tech jobs for a few years, fully intending to return to the places they came from and buy big houses there and raise their kids there. Honestly, the pandemic forcing companies to realize work from home actually works may finally fix their recruiting problem. Well, that and satellite offices.
The Great Reshuffling has also been used in recent years for numerous purposes: migration _to_ coastal cities and the increase in poverty concentrated in rural areas (https://eig.org/dci), the impact of humans on other species (Alien species), even migration of unaccompanied minors.
Another way to search is to look for rural and suburban bidding wars.
https://www.denverpost.com/2020/08/15/colorado-home-sales-prices-records-july/
Here, Colorado Springs area bidding wars are compared to the TP shortage early in the pandemic. It takes a while to reorient TP factories and distribution from making TP for the commercial market to make things for retail — similarly, housing can take a while to build.
“Gupta noted that year-to-date sales in Colorado Springs are 9% higher than last year, despite a still-active pandemic and unemployment rates surpassing those seen in the Great Recession.”
“Most buyers fit the mold of “urban flight” and many were considering a purchase already. They pulled the trigger after COVID-19 became an issue, Canfield said. Front Range buyers from Denver are active in the county, but most of the $2 million-plus properties are going to out-of-state buyers from Texas, Florida, Kansas, Oklahoma, New York and New Jersey.”
This is hard core relocation activity.
https://finance.yahoo.com/news/bidding-wars-hold-steady-july-120000450.html
“You'd never know that we're in the middle of a pandemic. It's as hot a seller's market as I've ever seen," said Greg Mathers, a Redfin agent in the San Francisco area. "One of my clients recently bid $100,000 over a home's asking price and only had the eighth-highest of 15 offers. It's coming down to how much money you can throw at a house and how many contingencies you can waive."
lunch time! I will probably resume later.
Anyway.
23 years later, there is a pandemic, and I am living in suburbia (after a stint in Southern New Hampshire small town, followed by a return to urban leaving on Jackson St, then back to SoNH, then finally to where I live now, in suburban Middlesex County in Mass) and I know I live in suburbia as a compromise between the quiet, dark rural that my husband prefers and the urban that I prefer, and to exploit our class position to get excellent school supports for our two special needs children. But for the very first time, I am _grateful_ to live in suburbia.
Also, for the first time, I am rethinking my pool opposition. I mean, owning a pool right now is fucking brilliant.
I am _never_ the first to think anything. I am a “second rank” sheep. I do not lead, but I am not within the vast bulk of the herd. I am towards the front of the crowd without actually leading, occasionally right at the edges of the herd doing something slightly odd but more or less keeping with the group. So: is everyone moving out of the city yet?
It is called, “The Great Reshuffling” and it arises out of a simple observation: you cannot go out to bars and children’s museums and the playgrounds and public pools and gyms are/were closed. It is better to have more space at home, now that everyone is _at_ home all the time. This is not about “space for a home office”. It is about space for two offices and space for more than one person to school from home, also, a workout space. And, ideally, a pool. And a playground. I am sure I have left something crucial out — a bigger and better kitchen with more pantry space, probably. Without upstairs, downstairs and side to side neighbors who you cannot yell at.
Link fu commences!
https://www.geekwire.com/2020/zillow-group-ceo-rich-barton-great-reshuffling-tectonic-shift-real-estate/
And
https://www.cnbc.com/2020/08/07/zillow-were-at-the-beginning-of-a-great-reshuffling-to-space.html
Zillow CEO thought going into the pandemic that sales would be down and they turned off their flipping operation. Well, it is turned back on now!
https://granolashotgun.com/2020/08/14/the-great-reshuffling/
Companies are saving $1000 / employee / month by having those employees work from home. And now those employees can save even more money moving out of town. Or, in some cases, save the same $1000/month just moving next door. Meanwhile, anyone who despaired of selling their rural property in BF nowhere finally has a chance to sell it to someone fleeing the city — maybe they can get a bidding war, if it is on a lake and has good wifi.
This blog entry at granolashotgun is particularly awesome, because it includes the backstory of how many people only moved to work in those coastal cities at tech jobs for a few years, fully intending to return to the places they came from and buy big houses there and raise their kids there. Honestly, the pandemic forcing companies to realize work from home actually works may finally fix their recruiting problem. Well, that and satellite offices.
The Great Reshuffling has also been used in recent years for numerous purposes: migration _to_ coastal cities and the increase in poverty concentrated in rural areas (https://eig.org/dci), the impact of humans on other species (Alien species), even migration of unaccompanied minors.
Another way to search is to look for rural and suburban bidding wars.
https://www.denverpost.com/2020/08/15/colorado-home-sales-prices-records-july/
Here, Colorado Springs area bidding wars are compared to the TP shortage early in the pandemic. It takes a while to reorient TP factories and distribution from making TP for the commercial market to make things for retail — similarly, housing can take a while to build.
“Gupta noted that year-to-date sales in Colorado Springs are 9% higher than last year, despite a still-active pandemic and unemployment rates surpassing those seen in the Great Recession.”
“Most buyers fit the mold of “urban flight” and many were considering a purchase already. They pulled the trigger after COVID-19 became an issue, Canfield said. Front Range buyers from Denver are active in the county, but most of the $2 million-plus properties are going to out-of-state buyers from Texas, Florida, Kansas, Oklahoma, New York and New Jersey.”
This is hard core relocation activity.
https://finance.yahoo.com/news/bidding-wars-hold-steady-july-120000450.html
“You'd never know that we're in the middle of a pandemic. It's as hot a seller's market as I've ever seen," said Greg Mathers, a Redfin agent in the San Francisco area. "One of my clients recently bid $100,000 over a home's asking price and only had the eighth-highest of 15 offers. It's coming down to how much money you can throw at a house and how many contingencies you can waive."
lunch time! I will probably resume later.