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How Covid-19 Has Reshaped Real Estate and Housing Prices Worldwide 3 года назад


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How Covid-19 Has Reshaped Real Estate and Housing Prices Worldwide

The retreat from major cities has been the pandemic’s big real-estate story — but that doesn’t mean metropolitan house prices have suddenly got cheap. From New York to London to Sydney, ultra-low interest rates and vast government fiscal support have limited distressed sales. Still, apartment rents have plummeted and suburban bidding wars have erupted as millions of workers have learned they can work from anywhere. Rents are where the Covid-19 effect is most obvious. Widespread job losses in fields like hospitality mean big groups of renters simply can’t afford to pay what they did previously. International students are gone. Young people have moved back in with parents. And at the upper end of the market — where the biggest price falls have been — wealthier renters have opted not to stay in virtually closed cities. When it comes to buyers, whether mass-market or prestige, people want space. And many white-collar workers are prepared to bet they won’t have to be in the office full-time again. So areas that once seemed a little too far away — whether in the suburbs or even farther afield — are booming. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube:    / bloomberg   Breaking News on YouTube:    / bloombergquicktakenews   Twitter:   / quicktake   Facebook:   / quicktake   Instagram:   / quicktake  

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