Coronavirus Triggers Basic Instincts that Alter the Real Estate Market

BOSTON - June 28, 2020 - PRLog -- Our primitive brains are still at work and it's in times of danger when we rely on this "reptilian" brain to ensure our survival. As we maneuver through the coronavirus pandemic, we are assessing our environments, (whether consciously or subconsciously) and considering options that will guarantee our health and safety. So, it may come as no surprise that our basic human instincts are now on full display when it comes to real estate.

In these times of coronavirus there is an uptick in sales and rentals of single family homes and a noticeable interest in suburbs just outside of major cities. After all, for urban buyers, the city promised nightlife, restaurants, a short commute to work, the arts, and constant social stimulus. Condo living provided a ready made home with "built in" maintenance and amenities that accommodated our busy lives.

The pandemic has changed all of that!

City dwellers have been hunkered in their homes for months and have experienced a monotone way of living, which offered limited space, modified social interaction, and no change in scenery.

With restaurants, retail, and theaters shuttered, cities have taken on an uncomfortable quiet. Our confined condos have become our gyms, yoga studios, favorite restaurant, barber shop, and place of employment and education. Additionally, the office buildings, where we worked, are scarcely populated and may never again be filled to capacity, creating a questionable future for commercial real estate.

This new city landscape, without the usual bustle to distract us, has amplified the lack of space and the longing for healthy environments. Our primal brains are now questioning where we should reside.

Not to worry, as we experience this new normal, our primitive brains will direct us to safety.
A recent Harris Poll found nearly a third of Americans are considering moving out of the city. Therefore, one can expect a moderate shift from the city to the suburbs, especially to those locations that include wooded areas, lakes, or oceans.

Single family homes that offer large yards, privacy, and are located in natural settings, will be much sought after. These homes can offer the space that we now need to work, learn, and play. Unlike regulated condo living, home ownership gives you the control of your property.

Our world has certainly changed but our basic human needs have not. Survival and the continuation of our species is innate and our primitive brains are now engaged. So if you suddenly find yourself perusing homes in the suburbs and putting your Realtor on speed dial…you can be sure that this is not a sudden whim but an actual response to potential danger from the oldest part of our brains.


Maureen Reddy
http://www.davincidesigner.com