Business
Work-from-home trend sparks real estate boom in what were resort towns
Along the beaches and in the mountains, more and more Americans are choosing to work from home in towns formerly better known as resort destinations.
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Along the beaches and in the mountains, more and more Americans are choosing to work from home in towns formerly better known as resort destinations.
>>> YOU'RE WATCHING WR >>> QUESTION THIS NOON, WHO DOESN'T NEED A VACATION THESE DAYS. HOW ABOUT THE NEXT BEST THING? LIVING AND WORKING FULL-TIME FROM A RESORT DESTINATION. DIANE REPORTS THAT SUDDENLY A NEW TREND PLAYING OUT IN THE MOUNTAINS AND BEACHES ACROSS AMERICA. >>> LAKE TAHOE HAS LONG BEEN ONE OF THE MOST POPULAR VACATION DESTINATIONS IN THE WORLD BUT ALMOST AS SUDDENLY AS COVID STRUCK, ITS POPULATION PIVOTED. >> WE ARE SEEING A SLEW OF PEOPLE WANTING TO CALL TAHOE THEIR PERMANENT RESIDENCE BECAUSE THEY KNOW THEY CAN WORK FROM HOME. >> SUSAN LOW HAS BEEN SELLING REAL ESTATE FOR 30 YEARS AND NEVER BEFORE HAS SHE SEEN THIS DYNAMIC. >> THESE ARE UNPRECEDENTED TIMES. THIS IS THE BUSIEST MOST ROBUST MARKET TAHOE HAS EVER EXPERIENCED. >> Reporter: PEOPLE ARE CHOOSING TO DO THAT FROM THE VERY SPOTS. VACATION HOMES ARE SOARING AND TAHOE LEADS THE LIST. SALES ARE UP 80%. THE SAME IN THE AREA AROUND BRIDGEPORT, CONNECTICUT. BEND, OREGON, CAPE COD AND THE JERSEY SHORE. THE TRANSPLANTS ARE GENERALLY COMING FROM SAN FRANCISCO, NEW YORK CITY AND BOSTON. >> AS I LOOK TO RETIRE, I MOVED TO LAKE TAHOE WHERE I HAVE VISITED ALL MY LIFE. >> THE SAN FRANCISCAN DECIDED TO BUY IN EARLY. >> WHEN COVID HIT, IT IS LESS POPULATED THAN LAKE TAHOE SO THAT PUSHED ME FORWARD TO MAKE IT HAPPEN NOW. >> JENSEN SAYS HE IS THRILLED HOW MUCH THE HOME HAS ALREADY APPRECIATED. WITH ALL OF THE DEMAND, VACATION HOME PRICES ARE SOARING. HE SAYS IT IS A LITTLE DIFFERENT BUT SUSAN LOW SAYS IT IS FANTASTIC FOR THE LOCAL ECONOMY WHICH WILL NOW HAVE TO ADD MORE