Image Source: Per Square Mile

Work at home is really here to stay for a lot of jobs, companies, corporations. Covid-19, Omicron and other coronavirus variants, along with the regular colds and flu symptoms have employees and workers analyzing what their next foray will be, in part in their lives going forward. 

People who now would commute to work have decided to work from home or find other jobs, and/or careers. Locations such as New York City and Long Island, Westchester County, and other metro areas have seen a decline in properties next to public transportation. Residential properties in locations such as New York City used to have properties that exceeded in value because they were close to public transportation; now not so much. 

New report studies from Zillow analytics showed from January 2020 until January 2022, home and residential properties near public transportation (trains, buses, car services) have steadily declined in continuing downtrend.  The trend pointed that individuals no longer want to work a 5 day work week, but would rather spend time, with family, and friends, especially the fact that many people’s family and friend died during the pandemic from Covid-19 and its variants. People are now analzing the importants of certain roles in their lives, this is to spend as much time with their loved and get as much done, that they did not have time to do before. 

With this comes the declining value of properties and homes because now people working from home, there is no more as much a demand to sell their properties or home, since they are working majority of the time from their residences. As work at home positions and jobs takes more of a central role in society, the demand and sky rocket prices of properties near public transportation hubs, may not indicative anymore. -SB  

The shift to work-at-home is so pronounced that New York properties near rail stations now trade at a discount – MarketWatch