Riaz Taplin’s Post

A recent NAR survey reveals that 63% of Americans who move stay within the same city or state, prioritizing proximity to family and friends. In fact, family ties influenced 30% of movers, while others sought larger homes or better deals—especially in the West. Lower taxes and remote work opportunities continue to drive migration to the South and West. Movers are reshaping suburban landscapes with a focus on outdoor spaces, safety, and walkable amenities. This trend shows no signs of slowing, with retirees and remote workers leading the charge. Understanding these patterns is key to investing wisely. Reach out to REIM to discover how this evolving migration is shaping multifamily opportunities in your market. REintelligent.com

The biggest winner of the post-pandemic geographic shuffle… Suburbs. In the U.S., large city centers have lost 8% of their population since 2020. Of those who left: - 58% moved to the suburbs of the same city - 29% moved to other large cities - 9% moved to mid-sized cities - 4% moved to rural areas (Research from Nick Bloom, Arjun Ramani, and Joel Alcedo: https://lnkd.in/eV3AQwpC) Cities aren't dying; they're expanding. As I’ve been saying for years, knowledge workers — who are increasingly demanding the ability to work from anywhere — will soon have a literal world of options for places to live. This means that cities — of all sizes — are now contenders for the growing new crop of geographically-mobile workers. But it won’t happen without intentionality. That means smart investments in: - public transportation - affordable housing - culture, social life, fun More of my thoughts here: - City Centers are getting more residential: https://lnkd.in/eYKFMDqY - How cities can attract remote workers: https://lnkd.in/eSDCjbaE - The model that cities should be following: https://lnkd.in/eRZrnkUD Have you moved since the pandemic? If so, which category, if any, do you fall into? In which part of the world do you live? ~~~~ - 🔔 Follow me, Jamaal Glenn, for more like this. - Subscribe to my newsletter to get these types of insights directly in your inbox: https://lnkd.in/eqXhHhiU

Richard Florida, for instance, points to the rise of “meta cities”—large U.S. metro areas distant from each other yet linked closely by the ties of remote work and Covid-era movers, such as New York and Miami (finance), the Bay Area and Austin (tech), and Los Angeles and Nashville, Tenn. (entertainment). The Economic Innovation Group chronicled a loss of high earners from major urban centers such as New York, San Francisco, and Washington, D.C. during the first two years of the pandemic. The home listing service Redfin, meanwhile, noted rising housing demand in affordable markets proximate to major metro areas (e.g., New Haven, Conn. outside New York; Richmond, Va. outside Washington, D.C.; Worcester, Mass. outside Boston), suggesting the growing prominence of hybrid (versus fully remote) work arrangements. How these dynamics play out could have significant implications for the economic and social health of cities, and for America’s urban hierarchy in the 21st century.

U.S. Cities with the Highest Rent in 2024 🏙️ Will they continue to rise? The rental market continues to see sharp increases in various cities across the U.S. These are the top cities with the highest median rent prices for a one-bedroom apartment in 2024: NYC’s Soaring Rent: New York tops the list with a $4,200 monthly median, up 11%—rising seven times faster than wages. How sustainable is this gap for renters? Tech Hubs & Declining Rent: San Francisco and Miami saw slight drops. Could remote work have something to do with this? Housing Pressure Nationwide: Even cities like Boston and Arlington are seeing price hikes. Rent vs. Wages: With rent outpacing wage growth in many cities, will this drive more people to suburban or secondary markets? Renting vs. Owning... Share your thoughts below. What's the median rent in the city you live in? Credit to Visual Capitalist for the graphic. #Finance #Money #Career #Job #Future #Innovation #Taxes #CEO #Future #Goals #Education #Motivation

Why Housing Matters to Employers: Supporting Gen Z’s Path to Financial Stability The cost of housing is one of the biggest financial challenges Gen Z faces as they enter the workforce. This infographic, based on data from RentCafe.com, reveals just how much Gen Z spends on housing from ages 22 to 29 in some of the most expensive U.S. cities. Key Findings: In cities like New York, San Francisco, and Los Angeles, total rent paid by age 29 can exceed $200,000. The cost difference between renting and owning varies widely by location, emphasizing the need for regional understanding. While not factored into this data, owning becomes significantly beneficial over time, especially once mortgages are paid off, leading to wealth-building opportunities. Why Should Employers Care? Housing costs directly impact your employees’ financial security, mental health, and career mobility. Gen Z workers may be drawn to cities with career opportunities but stuck in a paycheck-to-paycheck cycle due to high rents. Without access to homeownership, they miss out on one of the most reliable ways to build wealth and stability. For companies, this matters because: - Financially stressed employees are less engaged and productive. - Retention is harder when employees can’t afford to live near work or save for the future. - Offering competitive compensation and benefits, like housing stipends, relocation support, or financial wellness programs, can help differentiate your organization in the talent market. A Call to Action: Employers can play a pivotal role in addressing housing challenges by advocating for policies that make cities more affordable, offering innovative benefits, or even rethinking workplace models to reduce cost-of-living burdens. How can businesses better support employees facing high housing costs? What innovative housing benefits have you seen companies adopt? Let’s collaborate to build a future with hope for our next generations. #HousingMarket #GenZ #FutureOfWork #EmployeeWellness #FinancialResilience https://lnkd.in/g_GcCaBh #HousingMarket #GenZ #FinancialWellness #FutureOfWork Amanda Schneider, LEED AP, MBA 🤓

Great new study from The Brookings Institution based on recently released IRS migration data about how the pandemic changed (and didn't change) where Americans are moving. The main takeaway is that the onset of the pandemic accelerated a pre-existing trend that saw more households move away from very large metro areas and toward midsized and smaller markets. However, these changes didn't significantly alter the economic or demographic trajectory of metro regions. There were two types of increased metro-to-metro migration flows in the wake of the pandemic: 1. Long-distance moves, such as those from New York to Miami, which tended to build on long-standing migration patterns—in many cases toward metro areas with more affordable housing, temperate climates, and/or job opportunities.  2. Moves to adjacent metro areas that typically offered greater affordability and the ability for workers to maintain hybrid in-office schedules at their existing jobs, albeit with a longer commute.  From a #talentattraction targeting perspective, think about how you can leverage these two relocation trends. Which metro areas does your community provide a competitive advantage against in terms of key factors like cost of living and housing availability and affordability? Which regional markets can you tap to position your community as an option for hybrid workers looking for more space and affordability? Remember, depending on your location, this could mean metro areas outside of your state! At the end of the article, Brookings provides some great policy considerations that are worth looking at from a placemaking perspective. https://lnkd.in/eiu5wAMw

FinanceBuzz collected data on over 75 of America's biggest cities and ranked each using seven factors to discover the most overworked cities in the U.S. Here are the 8 most overworked cities in the country: 𝟭. 𝗗𝗲𝗻𝘃𝗲𝗿, 𝗖𝗼𝗹𝗼𝗿𝗮𝗱𝗼 Denver ranks above-average in every single metric we looked at, but the biggest contributor to the city’s first-place finish is the percentage of households where two or more people work full-time jobs—almost 62%, the seventh-highest rate of any city. 𝟮. 𝗗𝗮𝗹𝗹𝗮𝘀, 𝗧𝗲𝘅𝗮𝘀 Workers in Dallas spend nearly 45 hours per week at work or commuting, tied with New York City for the second-highest total in the country behind Miami. The percentage of Dallas’ 65+ population still active in the workforce is also the second-highest in the country, as 25.4% of people over traditional retirement age in the city are still working. 𝟯. 𝗪𝗮𝘀𝗵𝗶𝗻𝗴𝘁𝗼𝗻, 𝗗.𝗖. People in the nation’s capital spend almost as much time at work and commuting as workers in Dallas. More than a quarter of residents over the age of 65 are still participating in the workforce. In both instances, DC’s numbers are slightly lower than Dallas'. 𝟰. 𝗢𝗸𝗹𝗮𝗵𝗼𝗺𝗮 𝗖𝗶𝘁𝘆, 𝗢𝗸𝗹𝗮𝗵𝗼𝗺𝗮 The number of people in OKC looking for side hustles and side jobs is the third-highest of any city in the top 10 and well above the average across all cities evaluated. 𝟱. 𝗔𝘂𝘀𝘁𝗶𝗻, 𝗧𝗲𝘅𝗮𝘀 Austin is the second Texas city to rank among the most overworked cities in the country. Austin has the third-highest percentage of householders where multiple people work full-time (63.3%) and 25.5% of people over 65 in the city are still working — the highest rate of any city in the country. 𝟲. 𝗩𝗶𝗿𝗴𝗶𝗻𝗶𝗮 𝗕𝗲𝗮𝗰𝗵, 𝗩𝗶𝗿𝗴𝗶𝗻𝗶𝗮 While Virginia Beach workers don’t lead the nation in any metric related to overwork, they rank above average in all metrics. This includes weekly work and commute times that are within a few minutes of the top cities and a high percentage of people who work 50 or more weeks per year (86.8%). 𝟳. 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸, 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸 New York is known as the city that never sleeps, and part of that stems from how much time people there spend at work. The Big Apple is tied with Dallas for the second-highest average time spent on the job or commuting — just under 45 hours per week. 𝟴. 𝗣𝗼𝗿𝘁𝗹𝗮𝗻𝗱, 𝗢𝗿𝗲𝗴𝗼𝗻 The average search volume for side hustles and side jobs in Portland is 86.5 out of 100, by far the highest rate of any city in the country. Two or more people have jobs in nearly 60% of households in Portland, among the 15 highest rates of any city. How do you compare? Subscribe to Worthy, our free newsletter and find out how your finances stack up against other Americans. https://lnkd.in/eXtwgRM3

Recent research by Stanford economist Nicholas Bloom highlights the enduring "donut effect," where major U.S. cities experience a shift of residents and businesses from downtown areas to suburbs. Since the pandemic, the 12 largest cities have seen an 8% decline in downtown populations, with many relocating to nearby suburbs. This trend, driven by remote work, particularly among high-skilled workers, has led to fiscal challenges for urban centers. As suburbs benefit from increased tax revenues, city planners face tough decisions on restructuring downtowns. The study suggests that this shift may redefine urban landscapes in the long term.

Local vs. Long-Distance Relocations: Who's Moving in the U.S. Today? "Local moves — often discretionary and fueled by desires to upgrade to a better neighborhood or larger home — are now at historic lows. Relocations within the same state have dropped significantly, from 11.9% of the population in 2014 to just 9.1% in 2023, equivalent to 30 million people. Long-distance moves, however, are frequently driven by necessity, such as finding a job, affording a home or improving quality of life. These motivations remain strong despite rising costs of living, keeping state-to-state relocations on a steady trajectory." https://lnkd.in/e_-BTG9j

Did you know that the increase in the number of people working from home has shifted the dynamics of the housing market? If you’re one of the many professionals who’ve ditched the daily commute, you must have realized that big city life just isn’t as appealing as it used to be. The hustle and bustle, the noise, the crowds... it can all be too much! This shift has led many home-based workers to move to the suburbs—looking for places where they can have more space and quieter surroundings without giving up the conveniences of city life, such as good schools, shopping centers, reliable healthcare, and other public facilities. The result? A boom in demand for single-family homes in what we now call "middle neighborhoods". Middle neighborhoods offer the best of both worlds: the tranquility of the suburbs and the perks of the city, all while keeping living costs down and quality of life up. Are you a work-from-home professional enjoying life in a middle neighborhood? Drop a comment and share your experience below! #workfromhome #WFHprofessional #worklifebalance #remotecareers #digitalcreator Boost your marketing with custom reels! DM me to get started.