As new information and policies flood our nation during this pandemic, a new trend is beginning to emerge. Americans that once thrived on big city living have found a new appreciation for the comfort of wide open spaces. Wyoming, the least dense and arguably most beautiful state in our nation, has become more appealing than ever.
The 2010's showed a massive influx of people moving to large cities. But, in the last four years, metro areas with populations higher than 1 million have seen growth slow down and some have even decreased. It's easy to speculate that this trend will increase during and after this pandemic. In conjunction, the possibility of working remotely has increased in recent years. Now that many members of society have been forced into a remote work scenario, it is likely to become a more permanent reality. Especially considering the development of technology that allows people to do so. People will be able to live further away from their company's headquarters and, consequently, live further away from larger cities.
In the survey mentioned above, members of more suburban areas were less likely to consider a move to a less populated area. These people have already discovered the value of more space by spreading outside of the urban core of their city. These suburban areas have been shown to be more attractive to millennials even before the pandemic. This further shows us the value that is being placed on free space.
Wyoming has never been known to offer the same types of employment opportunities as large urban areas. But with the possibility of remote work being drastically more available to the workforce, location isn't going to matter as much. We could definitely see the value of freely available space overcome the value of location. Even though an economic recession is known to discourage people from making big moves, there is no shortage of opportunity here. As home builders, we have seen this first hand.
As the pandemic and economic shutdown have progressed, In Yarak Construction has maintained all operations. While adhering to all safety regulations, we have continued to develop our current builds and are still receiving plans for future builds. We are safe and we are busier than ever, suggesting that opportunities to buy and build homes in the Wyoming area are only going to keep to growing.