Why is the housing market so hot right now? From the pandemic-induced influx of people working remotely to our collective obsession with cruising Zillow (it’s not just us, right?), Bloomberg Opinion columnist Justin Fox discusses why some parts of the country are seeing housing prices sky rocket.

Note: This is a rough transcript — please excuse any typos.

JUSTIN FOX: The whole remote work thing is something that, for people with white-collar jobs and college educations. There aren’t many opportunities for everybody else. And when you look at what’s been going on with real estate markets is you have all these people who probably felt pretty poor in Silicon Valley or New York, but are now among the richer people out in some distant suburb or smaller city where they’ve moved and their buying in is making it harder for people in those places who are just making local incomes and can’t work remotely to afford housing.


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