Great Resignation, work from home will let real estate developers build new cities

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Great Resignation, work from home will let real estate developers build new cities
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Welcome to Remoteville, USA: Entire new cities are being designed for the age of work from home

. Remotevilles will also need basic infrastructure connecting them to the surrounding area. If land-use lawsuits block new road or power-plant construction, or limit where power lines can be placed, these are all"barriers to entry" that will limit population growth. While these lawsuits are well intended, they often have the unintended consequence of accelerating gentrification in the area.

But this sort of nightmare scenario is not inevitable. When an area attracts well paid WFH professionals, this creates more local, middle-class jobs in other industries and can help improve the services available to longtime residents. Building housing for new WFH residents will increase demand for construction workers, service sector workers, teachers, dentists, and others. Local hospitals will increase their capacity to manage expected demand.

Cities actively compete against each other to attract people and jobs. In recent decades Rust Belt cities have been losing this competition. Post-industrial cities such as Buffalo, Cleveland, adecline as residents searched for jobs and better weather elsewhere. Baltimore, to cite another example, has seen its population shrink from nearly 950,000 to 600,000 as people moved to the suburbs and more vibrant metro areas with more job opportunities. But the rise of remote work creates the possibility that Baltimore and cities of its ilk could enjoy a revitalization. These cities already boast culture, proximity to pretty waterways, andhousing stock.

The rise of remote work could also revitalize industrial cities like Baltimore since people could live in the city and occasionally check in to offices in New York City or Washington DC.Another city that could see a revival is Buffalo, New York. The city's population has been halved over the past 70 years, from 580,000 in 1950 to just 256,000 today. But Buffalo has recently marketed itself

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