No longer cool to live near the office?

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No longer cool to live near the office?

The Straits Times2021-09-19

(BLOOMBERG) - Affluent New Yorkers used to pay a premium to live in apartments that are within walking distance to their offices in the city. The pandemic has turned that calculus upside down. That is...

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HH浩
·2021-09-20
Direct impact to prime location rental and hence their property valuation? Pls like and comment.
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2
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Roboticpro
·2021-09-20
It is valid for those who got a clear mandate from their employers that work from home is a long term option.asia is not yet come to this stage.
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1
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保升龙
·2021-09-20
ok
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1
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Linda1127
·2021-09-20
Like please
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5
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- 滚股怪:
  Ok
  2021-09-20
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seanisright
·2021-09-20
convenience not as important?
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1
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Risz
·2021-09-20
Like
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3
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- Claire96:
  ??
  2021-09-20
  Reply
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steven_tohhl
·2021-09-20
Ok
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4
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- steven_tohhl:
  ok
  2021-09-20
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estherytwu
·2021-09-20
Ok
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- estherytwu:
  Ok
  2021-09-20
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oOoHades
·2021-09-20
Yes
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7
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- estherytwu:
  Ok
  2021-09-20
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Weeckee
·2021-09-20
Spot on.
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6
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- seanisright:
  wow
  2021-09-20
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Andrew210782
·2021-09-20
Like
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4
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- Mclye:
  Ok
  2021-09-20
  Reply
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- Pplymm:
  Done. pls like back
  2021-09-20
  Reply
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Williamw
·2021-09-20
Ok
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3
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SPOT_ON
·2021-09-20
Like n follow
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- SPOT_ON:
  like ?
  2021-09-20
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- SPOT_ON:
  like
  2021-09-20
  Reply
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- Williamw:
  Ok
  2021-09-20
  Reply
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逢場作戲又一日
·2021-09-20
Hg
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2
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ML808
·2021-09-20
WFH will be the future trend.
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- ML808:
  this will be the norm
  2021-09-20
  Reply
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Junpani
·2021-09-20
Like
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2
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- Pplymm:
  Done. pls like back
  2021-09-20
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FlareSpark
·2021-09-20
Why stay in town when you can work from home and live in less congested/expensive area
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- Chinleong:
  Yea
  2021-09-20
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- NewbieLeo:
  what do we think - would housing prices still be dependent on the old adage of "location location location"?
  2021-09-20
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- Weeckee:
  True
  2021-09-20
  Reply
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Winyss10
·2021-09-20
latest
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1
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Littlenoobie
·2021-09-20
Wow
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Unicorn82
·2021-09-19
Yeah WFH is great!
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- Littlenoobie:
  Yeahh
  2021-09-20
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The pandemic has turned that calculus upside down.\nThat is...</p>\n\n<a href=\"http://www.straitstimes.com/business/invest/no-longer-cool-to-live-near-the-office\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"http://www.straitstimes.com/business/invest/no-longer-cool-to-live-near-the-office","article_id":"2168152508","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"http://www.straitstimes.com/business/invest/no-longer-cool-to-live-near-the-office","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2168152508","pubTimestamp":1631998800,"columns":[],"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"(BLOOMBERG) - Affluent New Yorkers used to pay a premium to live in apartments that are within walki","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"住在办公室附近不再凉快？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"(BLOOMBERG) - Affluent New Yorkers used to pay a premium to live in apartments that are within walking distance to their offices in the city. The pandemic has turned that calculus upside down.\nThat is the conclusion from AEI Housing Centre research, which found that all but two of the 20 sharpest declines in metro-area home values from 2018 to 2021 are in Manhattan zip codes, including drops of about 10 per cent in parts of Greenwich Village and Soho.\nThe trend may not reverse any time soon. Higher earners, who are more likely to have the opportunity to work from home, are now looking away from city centres in search of amenities such as greater living areas, office space, lots and access to open spaces, according to the AEI Housing Centre, which is part of the American Enterprise Institute think-tank in Washington.\n\n\n\n\n\n\nA new survey published recently by the Pew Research Centre confirmed the trend. Some 60 per cent of respondents - up 7 percentage points from 2019 - said they prefer living in a community with bigger houses, even if that means shops and schools are farther away.\nA shift was already under way before Covid-19 hit, with affluent families moving out and younger people with lower incomes moving into some of the most walkable parts of big cities, according to Mr Tobias Peter, director of research at the AIE Housing Centre.\n\"We're seeing this has just been turbocharged\" by the pandemic, he said. Higher earners \"are freed from being shackled to their desk or their employer. So now they can move virtually across the entire country\".\n\n\n\n\n\n\n\nIn the second quarter, net migration out of urban neighbourhoods continued to be more than double the pace observed before the pandemic, according to a report by policy economist Stephan Whitaker at the Federal Reserve Bank of Cleveland. \"This flow of middle-aged people moving out to purchase homes in the suburbs is balancing a swelling return of young renters to urban neighbourhoods,\" he wrote.\nFrom 2012 to the start of the pandemic, housing values in the most walkable areas in New York City had appreciated cumulatively by about 45 per cent. Walkable is defined as a 10-minute distance by foot from commercial amenities and maybe a transit station.\nThe pre-Covid-19 boom gave New Yorkers arbitrage opportunities that the AEI Housing Centre quantified by tracking buyers through public records and changes of address at the post office. People selling a property in the New York City metro area and buying one in Florida spent about 70 per cent to 80 per cent of the proceeds on the new home, based on the median price. Whether they moved to Orlando, Fort Myers or Sarasota, they lost on \"walkability\", the data shows.\nMs Danielle Hale, chief economist at Realtor.com, cautions against writing off the attraction of lively city centres. Even though the coronavirus and its variants are here to stay, at least for now, many people will still want to be in close proximity to others, where they can benefit from the culture and the social interactions.\n\"My expectation is that it's likely to be temporary,\" she said.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":887465941,"gmtCreate":1632094491883,"gmtModify":1676530697687,"author":{"id":"3582015516749888","authorId":"3582015516749888","name":"HH浩","avatar":"https://static.tigerbbs.com/2639351c97027c6f71c4d9729ef216d8","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582015516749888","authorIdStr":"3582015516749888"},"htmlText":"Direct impact to prime location rental and hence their property&nbsp;valuation? Pls like and comment.&nbsp;","listText":"Direct impact to prime location rental and hence their property&nbsp;valuation? Pls like and comment.&nbsp;","text":"Direct impact to prime location rental and hence their property valuation? 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not as important?","listText":"convenience not as important?","text":"convenience not as 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