Byron Carlock Jr. who leads PwC’s U.S. Real Estate Practice took us through PwC’s latest Emerging Trends in the Real Estate Report.
Flexibility is something that's going to be built into our schedules, our work-life balances for some time.”
There is a convenience, ease, and flexibility that comes with remote work and it is here to stay. But will office visits be a thing of the past? Not quite. The office is transforming to a place for employees to collaborate and then head home to get work done.
The pandemic accelerated the work-from-anywhere trend. We quickly found out that we can be just as effective, and in some cases more productive working from home.
With people no longer anchored to an office, they can now live anywhere. This has accelerated the migration trend from cities to suburbs.
The housing affordability crisis is one of the top trends in the report.
Here are the top 4 issues:
The real estate industry needs to rethink city infrastructure to benefit the people by creating inclusive and safer neighborhoods.
The property sector is responsible for up to 40% of energy use and carbon emissions and must respond with sturdy regulations to the growing climate crisis.
Technology has impacted how firms operate and how people invest in real estate today.
The pandemic has affected each of us individually. It forced us to adapt and embrace this “new normal” of behavioral and workforce changes.
As real estate investing is becoming more accessible, it has earned a permanent spot on the allocation wheel.
The pandemic created uncertainty in various property markets. From changes to how we use housing space, our work patterns, and shifts in consumer spending.
People think we're in the real estate business, as real estate practitioners we're in the community betterment business. I see our industry rising to that task of being in the community betterment business.”
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