Note: Home price change measured from December 2019 to December 2021; Data: Redfin analysis of HMDA data; Chart: Skye Witley/Axios
The remote work arbitrage ain't what it used to be. I'm talking about the pandemic-fueled phenomenon of white collar workers, suddenly free to work from home, leveraging their higher salaries to buy homes in cheaper areas.
The big picture: All those remote workers drove up home prices in the formerly inexpensive areas, and made them more expensive. (Rents surged, too.)
