> NYC and SF are emptying, while suburbia is seeing bidding wars.
Yes, during the lockdowns. Let's see what happens in 1-2 years when people are allowed to socialize "normally" again.
Do you see the same thing in AU and NZ where they actually managed the pandemic in a proper fashion so extended lockdowns weren't as necessary? Are Sydney and/or Auckland emptying out?
> Are Sydney and/or Auckland emptying out?
Sydney and Auckland aren't, but Melbourne (in the State of Victoria) is, which endured highly restrictive lock downs for 7-9 months.
From friends and family there, it sounds like apartments in the Melbourne CBD (aka. Downtown / City Centre) are effectively ghost towns, with tenants leaving the city, while still paying rent, and rated rental prices dropping by 25%. The general sentiment seems to be that no-one is interested in being forced into close proximity in home & work situations like you'd find on public transport and apartment blocks. So free standing houses, townhouses with separate entrances are at a massive premium.
From friends and family in New Zealand, it's hard to tell, because the already over-priced and rising market is reaching utterly insane levels, potentially (disclaimer: anecdotal based speculation here) driven by New Zealanders returning home from overseas from countries that are now seen as unsafe.
Melbourne CBD is an exception because of the huge amount of residents on temporary visas and students, both of which are locked out of the country at the moment. The rest of the inner city is back to normal, some parts like Chapel Street and Fitzroy St which definitely weren't thriving pre-covid seem to be now.
It's like watching nature come back after a fire, not every tree survives but the forest rebounds.
Yes, during the lockdowns. Let's see what happens in 1-2 years when people are allowed to socialize "normally" again.
Do you see the same thing in AU and NZ where they actually managed the pandemic in a proper fashion so extended lockdowns weren't as necessary? Are Sydney and/or Auckland emptying out?