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Today, in the Calculated Risk Real Estate Newsletter: Remote Work and Household Formation
A brief excerpt: Back in September 2021, I wrote Household Formation Drives Housing DemandSo what is driving demand for both homeownership and rentals? Household formation!Over time, housing economist Tom Lawler and I unraveled the household formation mystery. A key driver of household formation was work-from-home. And this analysis has some significant implications for the housing market and the Federal Reserve (see articles at the bottom of this note).
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Today, economists Adam Ozimek and Eric Carlson published new research: Remote Work and Household FormationAnother important basic fact of housing markets during the pandemic is that there was a rapid expansion of household formation. As Figure 3 shows, household formation surged 2.5% in 2021, more than double the fastest pace post Great Recession.There is more in the article. You can subscribe at https://calculatedrisk.substack.com/
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