Urban areas are already seeing a great deal of exodus and prices in major cities are collapsing.
We will see how it all turns out but I will not be surprised if we see cities as undesirable in 10 years.
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I think this will primarily depend on whether or not the work from home takes off. I think it will but if the going back to work crowd works out, then the cities will still be filled.
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That is true and certainly an area of uncertainty. However look at who is in cities. Companies such as banks and insurance companies occupy a lot of real estate in cities. These are two areas that are under attack in my opinion.
Even the other discussion about lawyers, they occupy a lot of city space in the US. If they are seriously reduced, that will free up a lot of space.
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Right now its the small offices that are in demand. As things go virtual I expect it to go down as well. But the problem is if prices will go down or will the reach buy up everything or are we forced to rent from the rich?
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They do that with market cycles anyway. Who do you think buys all the stuff from the banks when the real estate market crashes and people are foreclosed upon?
The game is still the same. This way, the transfer of wealth is at least not taking place.
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This is true even in India and there are hell lot of lawyers here lol but still the amount of pending cases is huge , like literally , very very huge .
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That is true , the cities in India is filled up and there is literally no more space for new buildings . The WFH culture can help Indian cities to decongest a bit .
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