Disastrous Changes for Cities Worldwide: How the Covid-19 Pandemic and Advancing Technology are Transforming Real Estate
The Covid-19 pandemic has had a dramatic impact on cities around the world, including Toronto. With many people being chased out of their homes and into overpriced boomers homes in the suburbs, it’s clear that Tory has done some serious damage to the city. However, it looks like this could be just the beginning of changes to come for cities worldwide. The technology behind virtual reality is advancing rapidly, and it’s likely that in 10 years time most work will be done remotely. This could lead to populations dispersing away from cities altogether and remote working becoming more commonplace. Unfortunately this means that condo values are likely to be decimated as a result - something buyers should bear in mind when making an investment.