1% Exploring Relocating to Other Cities Amidst COVID/Lockdowns

[Julio Gonzalez]

So many of our friends from the likes of LA and New York are weighing their options for relocating to more tax-friendly and less authoritarian climates. How do you think this will impact real estate, the economy, and lifestyles over the next few years? www.bloomberg.com/news/articles/2020-12-16/what-happens-when-the-1-move-to-miami-and-austin

Also, you all are always welcome down here in Florida!

[Alice Huang]

Very interesting Julio!  Although we have not had a pandemic like this since 1918, but we've had similar demand shift in Canada and more recently in the UK.

Drop in demand in the Montreal market after the referendum for independence in 1996 has altered how one's investment goes in the long run.  Majority of the HQs moved to Toronto.  Which was one of the reasons why the market in Toronto to quadruple since 1996, much the same in Vancouver.  

Montreal has increased in prices of course, but at a much slower rate than Toronto and Vancouver.

Similarly, since the Brexit referendum, real estate prices in Central London has also taken a hit as HQ relocate to Paris and Berlin and the "top 1% vacate" from Central London.

I think prices will still increase, but at a reduced rate comparing to previous decades.  

What are your thoughts?