(Featuring Gleb Nechayev, Head of Research, Chief Economist, Berkshire Residential Investments)

Do people follow jobs, or is it the other way around? The answer depends on where we are in a business cycle.

https://www.afire.org/podcast/migrationpatterns

During recessions, people tend to move towards markets where employment prospects are better, and as recoveries take hold, businesses usually expand into areas where people want to live. As the COVID-19 virus spreads around the world, it introduces a whole new dimension to the question: do people follow jobs, or do jobs follow people? Today, the answer is as much about public health as it is about the interplay of economics and demographics.

Gleb Nechayev, Head of Research and Chief Economist of Berkshire Residential Investments, looks at how migration during COVID-19 affects economic growth and real estate fundamentals across markets and within.