Page 24 - AAGLA-JAN 2022

Multifamily News
JANUARY 2022
Survey Reveals 2 Out of 3 Americans Relocated During the Pandemic People Have Been Moving Largely Due to Remote Work Opportunities
A survey of 1,250 adults examined several factors that influenced people to move to a new home during the pandemic. The survey found that more people are now working and learning from home, which has created the need for additional living space and sparked what has been dubbed “The Great Relocation.”
According to the survey, only 33% of respondents remained at their current dwelling, while 67% moved out of their homes between March 2020 and October 2021. Most people who moved to a new home cited the need for more space as a significant factor. 37% of survey respondents stated they moved into larger homes. In contrast, only nine percent of people who relocated moved to a home with similar square footage, and 6% moved into smaller homes.
Survey results indicate that 39% of respondents moved because of remote work, with many looking for more space to set up an at-home office. Alternatively, 25% of respondents were also motivated to live in a different location and say remote work provided that flexibility. Some domestic migrants have adopted a nomadic lifestyle, with 7% forgoing a permanent residence.
Conversely, financial hardship forced many respondents to downsize or give up their homes entirely with 21% of respondents moving because of pandemic-related financial setbacks. Among people who moved into smaller homes, 33% cited money challenges. This concern was also the primary reason for those who moved in with family members (30%) or those living with no permanent residence (44%).
StorageUnits.com commissioned this survey to identify relocation habits among adults during the pandemic.
New Boston Mayor, Michelle Wu, Pushes Rent Control Policies
Newly elected, Boston Mayor Michelle Wu spoke to Massachusetts Governor Charlie Baker about rent control, and while she did not suggest she had changed his mind about the policy she said there could be a way to approach housing costs that looks different from the “old style of rent control” that the Republican governor opposes.
Mayor Wu campaigned on the idea of rent control, but to implement rent control policy in Boston she would need legislative approvalandthesignatureofthegovernor. RentcontrolinthestateofMassachusettsifprohibitedunderthestate’sconstitution.
24 JANUARY 2022 • WWW.AAGLA.ORG