Suburbia’s Comeback?

  • Massive increase of remote work, or partially remote work. For the foreseeable future, many companies will allow/enforce employees to continue to work remotely or will introduce a variety of policies to limit packed offices. Perhaps some companies will stagger days that different teams come into the office — Finance on Monday, Marketing on Tuesday, etc. The rest of the days will be working remote from home. Or perhaps some companies will simply make coming to the office optional. One of the key factors of paying exorbitant housing costs is to be close to work. But what if you no longer need to go to the office every day?
  • Appreciation of living space. When we lived in a small apartment in Manhattan, our consolation was that we were close to work and we also spent a lot of time outside our apartment, engulfed in all that the city had to offer. COVID has taken that away and cabin fever accelerates when your options to move around at home are limited. With lower living costs in suburban/rural areas, there is more space for things like a home office and/or workout equipment in the garage.
  • Reduced social interactions. For some, a key allure of a big city is the limitless social options — happy hours, networking events, parties, work lunches, etc. etc. But when will happy hours and networking events at packed bars come back in full force? Will we be having agenda-less work lunches with the same regularity?

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