May 29, 2021

Moving to the zoom city


According to a Pew Research poll, 5% of the US population moved because of the Covid-19 outbreak, while 11% of people aged 18 to 29 years old did so (). Financial strain was reported as the primary reason of people moving. According to a study by Audience Town, an ad tech platform for real estate and home marketers, most of those who are likely to move over the next three months are in their 30s and have more in sav...ings and assets than the national average. Main stats revealed in the Audience Town report:
• 11.7 million Americans are expected to move between April and June this year.
• 17.5% are business owners — making business owners 59% more likely to move than the overall population.
• 17% hold executive management titles — 65% above the baseline population.
• 16% have assets of more than $500,000 — 7.6% above the norm.
• One-third of likely movers are based in four states: California, Texas, New York and Florida.
Many workers assume they’re not going back to the office like it was before and plan to buy a bigger house with more space and amenities. “People are moving in huge numbers, and it’s going to be a massive year for residential real estate,” said Ed Carey, CEO at Audience Town. He added that the trend promised to “redefine the national landscape.” Many Americans — working from home, conducting meetings via Zoom — are saying farewell to large, costly metros like New York, Los Angeles and San Francisco in favor of more affordable destinations. People are opting for a change of scenery and rhythm as the remote workplace trend has afforded them an unprecedented level of flexibility as to where they plant their roots — leading to the rise of what Carey and others have dubbed “the Zoom city.”

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