Written by Nicholas Vetrisek
As a result of the coronavirus, many employees have been forced to work from home. This has opened the door to homeownership for many San Diegans.
The reason for this is that workers no longer have to worry about living near where they work and can buy a house in a less expensive neighborhood with no impact on their job. Black renters are expected to benefit most from this change.
Real estate company Zillow found that 15.4 percent of renters in San Diego could afford to buy a home if they were able to telework, while the number was 21.3% for Black renters. Through having the workplace decentralized, many more San Diegans can finally afford a home amidst the longstanding housing shortage in the county.
Zillow Economist Treh Manhertz said, “Although it’s well-known that the pandemic has been disproportionately harmful to Black communities, the rapid shift to remote work could make homeownership more broadly accessible. It’s a rare opportunity for those in a position to take advantage of remote work.”
Though the coronavirus has decimated the economy and forced many businesses to close, this is a silver lining because it gives many San Diegans an opportunity to enter the middle class, which was previously thought to be slipping away.
Photo by David Sawyer via Flickr
