August 9, 2020. Western Head, Nova Scotia. Trends.

I am but a bystander but I can read. And I talk with people. I do not track the real estate world as closely as I have done in the past but I have observed new definate trends in the market which seems new. People are getting out of the cities and buying homes in the suburbs. For the past 20 years, buyers wanted to live in the city, to be able to walk to restaurants and banks. But no more. New York people are buying in suburbs in Connecticut in order to get out of the city. At the moment, they are not paying any attention to their apartments in the city. The condo market will tank eventually. Lots of people own weekend and summer homes in the Hamptons. Much to the people who have lived there for years, those summer people have moved to the Hamptons permanently, thus making the places crowded. I recently read statistics for tenants who have moved out of their apartments and do not intend to return. I don't know the specific numbers but the number is large. Once it was difficult to see houses in the far out suburbs, now those places sell. Buyers want space. Working at home worked for many people so now they realize that they can work from afar, but they need space. So that is the next trend, which is space. The largest mansions are still a tough sell but the normal large homes will sell. For several years, small was desirable but no longer is this the case. Watching the world go by is interesting. I will be interested to see if the trends continiue after this virus has gone away. I will be fascinated to watch.