Shalom Lamm has been a real estate investor for decades. The patterns and trends that the Coronavirus pandemic have caused in terms of changes, to the industry, have been nothing short of unprecedented. What we’ve consistently seen over the course of the last few months according to analysts, is what can best be described as a great deal of flight from urban and city locales to rural and suburban areas. This has indeed led to a depreciation in the value of real estate in major metropolitan areas; although that in and of itself, has not been the only variable.
According to Shalom Lamm and other experts, these trends have been in the works for many years, predating the pandemic. There was already a relatively drastic level of depreciation in the value of residential properties in the luxury high-end parts of the market, in major cities. Now the pandemic has exacerbated these issues in a way that will clearly level the playing field for many investors who would otherwise not be able to purchase property in the city.
The fallout from the pandemic has hit the real estate industry in other ways, as well. There are certain areas in the suburbs that have never had the type of demand for purchasing that they currently do, as people look for homes that can provide them with more space in the wake of this insanely dangerous health pandemic. These spatial needs that people are now more conscious of, have lend tt themselves well for those in the suburban markets looking to have their properties appreciate in value. It will be interesting to see how long these trends last for; and whether there will be changes that transpire beyond what we’ve experienced and witnessed over the coming years.