Elisa Guglielminetti, M. Loberto, G. Zevi, R. Zizza
{"title":"How Work from Home Changes Housing Demand: Evidence from Online Search","authors":"Elisa Guglielminetti, M. Loberto, G. Zevi, R. Zizza","doi":"10.1257/pandp.20231015","DOIUrl":null,"url":null,"abstract":"We quantify the impact of work from home (WFH) on housing demand by leveraging a unique dataset of online housing sales advertisements in Italy and considering intensity in the adoption of WFH. By exploiting both the time series and the geographical variation in WFH adoption after the outbreak of the COVID-19 pandemic, we estimate that intensive WFH is the main driver of a significant recomposition of housing demand toward larger, single-family properties with outdoor spaces. This suggests that hybrid working arrangements involving a sizable amount of home-office work may have long-lasting consequences on housing markets and the organization of cities.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"14 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"AEA papers and proceedings. American Economic Association","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1257/pandp.20231015","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
We quantify the impact of work from home (WFH) on housing demand by leveraging a unique dataset of online housing sales advertisements in Italy and considering intensity in the adoption of WFH. By exploiting both the time series and the geographical variation in WFH adoption after the outbreak of the COVID-19 pandemic, we estimate that intensive WFH is the main driver of a significant recomposition of housing demand toward larger, single-family properties with outdoor spaces. This suggests that hybrid working arrangements involving a sizable amount of home-office work may have long-lasting consequences on housing markets and the organization of cities.
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