{"id":3311,"date":"2023-10-09T08:42:20","date_gmt":"2023-10-09T12:42:20","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=3311"},"modified":"2024-04-25T23:17:31","modified_gmt":"2024-04-26T03:17:31","slug":"some-offices-are-bringing-their-remote-workers-back-will-this-force-homeowners-to-sell","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/some-offices-are-bringing-their-remote-workers-back-will-this-force-homeowners-to-sell\/","title":{"rendered":"Some Offices Are Bringing Their Remote Workers Back. Will This Force Homeowners to Sell?"},"content":{"rendered":"\n
\"A<\/figure>\n\n\n\n

\u201cThey need us. They won\u2019t force us to come back to the office!\u201d<\/p>\n\n\n\n

Or will they?<\/p>\n\n\n\n

During the pandemic, remote work<\/a> became a survival tactic. Some companies liked the new ways. They said they\u2019d keep remote or hybrid working options available indefinitely.<\/p>\n\n\n\n

For a time, stories abounded of employees who went remote, moved out of the cities, and bought homes further afield.<\/p>\n\n\n\n

Now, news headlines point to high-profile companies calling people back to their office hubs. Are these return-to-office (RTO) policies causing people to ditch homes they bought during the height of the pandemic?<\/p>\n\n\n\n\n\n\n\n

Some Say They\u2019ll Move for Their Bosses; Some Say They Won\u2019t<\/h2>\n\n\n\n

Several high-tech and financial companies want their employees back in the office \u2014 for at least part of the workweek. A Redfin study, reported by Business Insider <\/em>and others, found about 10% of those who want to move in the year aheadare citing a return-to-office policy as the reason.<\/p>\n\n\n\n

Redfin’s survey found many more than that who hope to move for different reasons. Some homeowners want more space. Some want to live closer to family. Some seek a lower cost of living. These are the top reasons they\u2019d like to sell their current homes.<\/p>\n\n\n\n

So, are new homeowners in Boise being told to return to their desks in Seattle \u2014 or scram? A few, yes. But many people will just say no to a move like that. This sentiment is echoed even by established professionals. Many of them will take a pay cut, if that\u2019s what it takes to avoid RTO. Vox<\/em><\/a> cites an international McKinsey survey suggesting people would accept 20% lower incomes to keep their remote or hybrid lives.<\/p>\n\n\n\n

As we\u2019ve noted before, mortgage rates are up in 2023<\/a>. Home prices have remained at a steady high. That\u2019ll make it especially hard for people to deal with the financial elements of selling, buying, and moving. Once you factor in all the closing costs, how can you break even on a home that you just bought two or three years ago? Expecting anyone to move in this market is a tall order.<\/p>\n\n\n\n

\u261b<\/em> What happens if a buyer gets a mortgage that turns out to be impossible to pay? Here\u2019s some information on what people do when they <\/em>can\u2019t pay their mortgages<\/em><\/a>.\u00a0<\/em><\/strong><\/p>\n\n\n\n

To Go or Not to Go: What Gets People to Move Back to an Office Hub?<\/h2>\n\n\n\n
\"A<\/figure>\n\n\n\n

Here\u2019s a question for readers to ponder. For homeowners who right now have 4% mortgage rates or even lower, as many people now do\u2026 Is it worth it to let go of that because the boss wants you back in?<\/p>\n\n\n\n

People who have adjusted to the remote or hybrid work style may find a number of advantages to their new routines:<\/p>\n\n\n\n