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Remote Workers are Moving, Creating New Real Estate Opportunities

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Remote workers no longer tethered to an office are settling in mid-sized cities across the nation, creating new opportunities and headaches for real estate developers and the cities themselves. More than 12 percent of moves between April 2020 and December 2021 were caused by COVID-19, as remote workers have flocked to smaller cities with lower costs of living, lower taxes, and fewer pandemic health restrictions, according to a recent study by professors at Vanderbilt University and the Georgia Institute of Technology.

The study analyzed 360,000 residential interstate moves from the last five years, finding that 70 percent of people citing remote work as the reason for their move earn more than $100,000 annually. Superstar cities in huge coastal metro areas like New York and San Francisco aren’t going away, but they’re losing enough people to impact their tax base.

Much of this migration is caused by highly paid…

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