Remote work significantly drove home price surge

According to research from the Federal Reserve Bank of San Francisco, the shift to working remotely from home during the pandemic drove up real estate prices and rents by as much as 60 percent. Moreover, as this shift becomes permanent, home prices and inflation will likely continue to rise.

The study says that each 1 percentage point increase in remote work results in about a 0.9 percentage point increase in house prices, with similar results in rental prices.

Currently, 30 percent of the workforce is continuing to work remotely.

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