Federal Reserve: signs abound that housing market is entering bubble territory

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

[Anonymous]

federal employees will still largely have touchdown days which may enable living further out but wont necessarily readily allow for leaving the dmv

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I get more recruiter calls about remote work than not. Remote is almost the first thing they mention.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I've noticed the same as well. I think more telework will be a permanent fixture, and that there has been an increase in fully remote positions overall, but in my and DH's social circles and in our neighborhood, we've gone through everyone being 100% remote to more and more people getting called back. I'm now the only one in our group who remains 100% fully remote and that will soon change to 2x per week in the coming months, though everyone we know has more flexibility than they had before. DH, for example, used to go in 4x per week prepandemic. Now it's 2-3x per week, more towards 2.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I didn't say that remote work would increase; I said that if people could maintain 100% remote work then they might leave for areas outside the DMV. There are still lots of people who are now 100% remote but weren't pre-pandemic. Not sure what this will look like in another year.

[Anonymous]

My job will be remote by the end of 2022. It’s just taken a change in leadership and then coordination with IT and budgeting for the work from home necessities to make the transition. There’s no point for us to take up office space, it’s a waste of money for the organization. I guess non profits just move slower.

Aside from government workers I think remote work will increase. A lot of my friends in the private sector have recently moved or are in the planning stages of moving, I think they were waiting for confirmation it was permanent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I've noticed the same as well. I think more telework will be a permanent fixture, and that there has been an increase in fully remote positions overall, but in my and DH's social circles and in our neighborhood, we've gone through everyone being 100% remote to more and more people getting called back. I'm now the only one in our group who remains 100% fully remote and that will soon change to 2x per week in the coming months, though everyone we know has more flexibility than they had before. DH, for example, used to go in 4x per week prepandemic. Now it's 2-3x per week, more towards 2.

Same here. We’ve lost the exuberance of “everything’s changing” and thinking’s there will be a lot more remote options to seeing our friends, us, etc being called in and indications that there may be some more telework flexibility than pre pandemic but there’s a push to return. I now don’t believe it’s a whole new world re remote work for a lot of non-tech sectors and I think we will see hybrid set ups.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I've noticed the same as well. I think more telework will be a permanent fixture, and that there has been an increase in fully remote positions overall, but in my and DH's social circles and in our neighborhood, we've gone through everyone being 100% remote to more and more people getting called back. I'm now the only one in our group who remains 100% fully remote and that will soon change to 2x per week in the coming months, though everyone we know has more flexibility than they had before. DH, for example, used to go in 4x per week prepandemic. Now it's 2-3x per week, more towards 2.

Same here. We’ve lost the exuberance of “everything’s changing” and thinking’s there will be a lot more remote options to seeing our friends, us, etc being called in and indications that there may be some more telework flexibility than pre pandemic but there’s a push to return. I now don’t believe it’s a whole new world re remote work for a lot of non-tech sectors and I think we will see hybrid set ups.

Yes, the return to office is real. I don't see telework as the way forward. There must have been indications that it wasn't working as well as those in charged hoped (for whatever reason). Industry standard appears to be back in the office with more telework flexibilities.

[Anonymous]

Anonymous wrote:My job will be remote by the end of 2022. It’s just taken a change in leadership and then coordination with IT and budgeting for the work from home necessities to make the transition. There’s no point for us to take up office space, it’s a waste of money for the organization. I guess non profits just move slower.

Aside from government workers I think remote work will increase. A lot of my friends in the private sector have recently moved or are in the planning stages of moving, I think they were waiting for confirmation it was permanent.

Sure but the attorneys were back in office long before gov workers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My job will be remote by the end of 2022. It’s just taken a change in leadership and then coordination with IT and budgeting for the work from home necessities to make the transition. There’s no point for us to take up office space, it’s a waste of money for the organization. I guess non profits just move slower.

Aside from government workers I think remote work will increase. A lot of my friends in the private sector have recently moved or are in the planning stages of moving, I think they were waiting for confirmation it was permanent.

Sure but the attorneys were back in office long before gov workers.

LOL. That's quite a generalization. Some of us feds have been back in the office full time since October 2021. And my guess it that attorneys in private practice probably have individual offices, whereas we returned to a sea of cubicles. Nice try, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people forgetting that there is a housing shortage, especially for single family homes. Construction of new hosing has not picked up. Rent prices in some places are almost as high as mortgages. People still have kids and need more space.

Home prices will not go down. But they will not grow at the same rate as they have the past few years. We’re likely to see a steady growth over a ten year period. By that time there will be more single family housing available. Things will balance out.

There is NOT a housing shortage. There is a shortage of homes for sale. There is a difference and it matters.

Actually there is. Because when you flood a border for 30 plus years, ESPECIALLY every year since 2016, you have tens of millions of new residents -- with papers and w/o papers -- who need housing.

Um, what? This isn’t the Q Anon forum, friend. Turn off the FoxNews, put down the vino, and read up on net population loss in the DMV.

Double digit pop. growth in practically every DMV county and the District 2010 to 2020.

Don't worry, remote work really won't be a thing. i see my lawyer neighbors in suits again regularly. https://www.inc.com/jason-aten/googles-employees-return-to-office-today-this-former-exec-says-hybrid-work-wont-last.html






DC lost a higher percentage of its population than any other state in the last census (which covers 10 years) and not because people moved to other locations in the DMV. There’s been a lot written about the population decline in the DMV on this board and also in the news. Google it.

https://www.npr.org/local/305/2021/12/23/1067215177/new-census-data-finds-d-c-had-nation-s-largest-percentage-drop-in-population

This. DC had the largest population loss and home values rose the least percentage out of all the states (and DC) during the pandemic. DC's future depends on remote work policies because most DC residents choose to live in DC for proximity to work (with proximity to amenities second only after factoring for proximity to work). We choose to live in DC over the VA or MD suburbs, but not sure we would choose DC over some other part of the country if we could maintain 100% remote work.

Do you think remote work is going to increase from here on out? My perception is employers are calling people back into the office, not the other way around.

I've noticed the same as well. I think more telework will be a permanent fixture, and that there has been an increase in fully remote positions overall, but in my and DH's social circles and in our neighborhood, we've gone through everyone being 100% remote to more and more people getting called back. I'm now the only one in our group who remains 100% fully remote and that will soon change to 2x per week in the coming months, though everyone we know has more flexibility than they had before. DH, for example, used to go in 4x per week prepandemic. Now it's 2-3x per week, more towards 2.

Same here. We’ve lost the exuberance of “everything’s changing” and thinking’s there will be a lot more remote options to seeing our friends, us, etc being called in and indications that there may be some more telework flexibility than pre pandemic but there’s a push to return. I now don’t believe it’s a whole new world re remote work for a lot of non-tech sectors and I think we will see hybrid set ups.

Yes, the return to office is real. I don't see telework as the way forward. There must have been indications that it wasn't working as well as those in charged hoped (for whatever reason). Industry standard appears to be back in the office with more telework flexibilities.

This is what we are seeing with our circles as well. Increasing time in the office, but more telework, as needed. WAY less business travel.

[Anonymous]

At my agency NIH we have three options to choose from which was provided by HHS. Telework (ad hoc,regular,etc.), Remote local and remote outside of the commuting area.

The majority of my immediate office chose remote local which means giving up your office space.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My job will be remote by the end of 2022. It’s just taken a change in leadership and then coordination with IT and budgeting for the work from home necessities to make the transition. There’s no point for us to take up office space, it’s a waste of money for the organization. I guess non profits just move slower.

Aside from government workers I think remote work will increase. A lot of my friends in the private sector have recently moved or are in the planning stages of moving, I think they were waiting for confirmation it was permanent.

Sure but the attorneys were back in office long before gov workers.

LOL. That's quite a generalization. Some of us feds have been back in the office full time since October 2021. And my guess it that attorneys in private practice probably have individual offices, whereas we returned to a sea of cubicles. Nice try, though.

I'm this PP. Just to clarify -- we have always had cubicles. never had offices to start with, and the telework flexibility that came with the pandemic was taken away completely. Full time in office in cubicles. Maybe not the majority of people's experience, but I can tell you -- it exists among gov workers.

[Anonymous]

Anonymous wrote:At my agency NIH we have three options to choose from which was provided by HHS. Telework (ad hoc,regular,etc.), Remote local and remote outside of the commuting area.

The majority of my immediate office chose remote local which means giving up your office space.

How does remote outside of the commuting area work?

[Anonymous]

Anonymous wrote:My job will be remote by the end of 2022. It’s just taken a change in leadership and then coordination with IT and budgeting for the work from home necessities to make the transition. There’s no point for us to take up office space, it’s a waste of money for the organization. I guess non profits just move slower.

Aside from government workers I think remote work will increase. A lot of my friends in the private sector have recently moved or are in the planning stages of moving, I think they were waiting for confirmation it was permanent.

Same. My org realized it was a waste to spend all that money on leasing office space. I’m hearing the same from many other private sector employees.