Have real estate and labor markets reached a new normal?

With the expansion of remote and hybrid work, metros like Nashville, Indianapolis, and Salt Lake City are attracting highly educated households who can telework. At the same time, major new corporate and federal investments—sometimes prompted by the nation’s new industrial strategy—are adding large-scale developments to the mix. While this in-migration offers many benefits—more talent, resources, and increased demand for locally serving businesses—it has also created upwards pressure on housing costs and increased demand for public services. How local governments, businesses, and civic organizations respond to in-migration over the coming years will impact regional competitiveness and well-being.

On Thursday, December 14, Brookings Metro, in coordination with Revolution, hosted an event to explore the challenges and opportunities being posed by rapid economic growth outside the traditional orbit of what we call the “superstar” cities, often resulting from the growth of remote work. Speakers dove into some of the macro trends that are shaping and changing both labor markets and housing markets—including the intersections of those—at a moment of both historic investments and enormous uncertainty.

Registration is required to attend an event in person and guests at Brookings are required to attest to their state of health before attending. Visitors may not enter the building if they are feeling ill for any reason, have any symptoms commonly associated with COVID-19, or have tested positive for COVID-19 at any time in the preceding 5 days or longer in accordance with current CDC guidance, or have been advised by their healthcare professional or otherwise to not enter any space where some persons may not be vaccinated.