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Fri Oct 30, 2020, 03:04 PM

Smaller American Cities See Big Interest From Urban Flight: Remote Work & School [View all]



- 'Smaller American cities see big interest from urban flight,'- CNBC, Oct. 30, 2020.

Now that more Americans can work and attend school from anywhere, they are increasingly looking to leave large urban centers for smaller, less dense cities with cheaper housing.

As different real estate entities try to measure the migration, certain cities are standout destinations.

Santa Barbara, California; Louisville, Kentucky; and Buffalo, New York, are seeing big net inflows. This is the number of people looking to move in minus the number of people looking to leave, according to a study of online home search results by Redfin.

Santa Barbara’s net inflow increased by 124% in the third quarter compared with the same period a year earlier. Louisville saw a 113% increase, and Buffalo a 107% gain.

> “Remote work has opened up a whole new world of possibilities when it comes to buying a home,” said Redfin chief economist Daryl Fairweather. “Many residents of expensive areas like New York or Los Angeles couldn’t manage to afford rent and save for a home at the same time. So it’s no wonder that these folks are looking to buy homes in much more affordable places like Louisville and Little Rock.”...

https://www.cnbc.com/2020/10/30/smaller-american-cities-see-big-interest-from-urban-flight-.html

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