Will This Trend Continue and How Will Cities Adapt and Regenerate in the Aftermath?
Many of the world’s largest cities suffer from the same complaint — their housing market is out of reach for most of their residents. While Hong Kong vies for the honor of the world’s most expensive city, many cities in North America have similar issues with a lack of affordable housing. San Francisco, Los Angeles, New York, plus Vancouver and Toronto in Canada, all have hyper-inflated house prices, and rents that leave residents that either choose or need to live there, often spending more than half of their income on housing while many low- to middle-income families have about as much chance of flying to the moon as they have of ever getting a foot on the housing ladder.
Seldom do we experience a specific event that creates a paradigm shift in our view of the investment world. The coronavirus pandemic will undoubtedly go down in history as the second such experience in the last 13 years. This is due to its wide-reaching effects upon individuals, the global supply chain and the entire economic scene. However, at some point the curve will flatten, new cases will become fewer and a vaccine will be created. At this point, the light at the end of the tunnel will become visible. But what does this mean for the real estate sector for the remainder of 2020 – and beyond?