Now is not the time to buy a new house

Bloomberg Opinion Today
Bloomberg

A Pandemic Is a Terrible Time to Buy Real Estate — Teresa Ghilarducci

More than 40% of Americans are working from home, and among them the urge to "work nest" is strong. My sister-in-law turned the family shed into a "shoffice," with charming homemade curtains hiding the tools and a pillow for the pandemic puppy. Surging home prices suggest that many who are working from home and find themselves shedless are in the market for a bigger house.

I hope to put a big yellow "Slow" sign on home-buying in a pandemic. The housing market may be soaring because of bad information and short-term thinking. You don't know whether bosses will make work-from-home permanent or who will be targeted for downsizing. You may come to rue buying at a time when inventory is so low and prices so high.

Read the whole thing.

How to Be Happy During a Pandemic — Tyler Cowen

Biden Aced the Town Hall. Why Didn't Trump? — Jonathan Bernstein

What Happened to Portland? — David Shipley

New York City's Day of Reckoning Is Here — Timothy L. O'Brien and Nir Kaissar

Work From Home Is Ending. But the Pandemic Is Still Here. — Emily Oster

France and Spain Fail the Coronavirus Test — Lionel Laurent

Journalists Should Stop Cleaning Up After Biden — Ramesh Ponnuru

Why Has Trump Ignored California's Wildfires? — Jonathan Bernstein

This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership.

 

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