Already apparent in the U.S., COVID-19 has resulted in a migration from major cities and falling rents. As the housing industry braces itself against continued impacts from the virus, will both trends continue into the third quarter? Market analysts, real estate agents and renter surveys give us clues about what to expect. Are people really moving away from cities as a result of COVID-19? Yes. People are leaving cities to avoid COVID-19 risks and disturbances. Though it is a misconception that population density equates to higher risk, perception matters. The perceived increase in risk has made city residents feel less safe. That fear, coupled with other disruptions, motivates relocation for those who can afford it. Pew Research Center reports that 3% of U.S. adults moved due to the pandemic and about 6% had a member of their household relocate. Of those surveyed, 28% moved to reduce their risk of contracting the virus and 8% moved due to job loss. About 20% moved to be closer to family. Younger people make up a unique portion of those who relocated. Roughly 9% of adults ages 18-29 relocated due to the virus. This includes 23% of respondents who were university students forced to vacate their campuses. Even New York– the market trendsetter that has captured hearts for generations– is seeing mass movements to the nearby suburbs. Real estate agents Susan Horowitz and Monica Schwerberg explored the details in an interview with NPR. “We are seeing 20 offers on houses. We are seeing things going 30% over the asking price. It’s kind of insane,” Horowitz said. “It is a blood sport.” She adds, “Every last bit of it is COVID-related.” Schwerberg agrees, “In the month of April, where we typically would get maybe 75 inquiries in a month, we had over 400 inquiries.” People who once loved the city atmosphere are seeking locations with less population density, which is falsely assumed to correlate with increased infection risks. Additionally, many breadwinners are now working from home. Remote work opportunities have made commute times less of a factor in housing decisions. Since March 2020, about 10,000 New Yorkers filed for address changes to the state of Connecticut alone, reports Hearst Connecticut Media. Nationwide, U.S. Postal Service data indicates that southern Florida and southern California are popular relocation destinations. Who is moving during COVID-19? While some people are relocating due to job loss and financial difficulty, there is a correlation between job security, higher incomes and relocation. In short, households with higher incomes can afford to sell their current home (potentially at a loss) or terminate a lease early in favor of getting a new home in the suburbs. Higher income households are also more likely to have remote work. The ability to maintain income while working from anywhere permits the flexibility needed to relocate during the pandemic. Additionally, higher income households represent the demographic most likely to own a vacation home. About 13% of those who relocated moved into their second home or vacation home, reports the Pew survey. How does COVID-19 relocation impact the rental market? Yardi Matrix analyzed asset performance data from 107 major metropolitan areas between April and May 2020. During that time, multifamily rents declined by .4% nationwide. Overall, twice as many markets witnessed rents decline than rents rise. “Multifamily’s nearly decade long run of healthy performance increases came to an abrupt and unexpected end this year,” said Jeff Adler, vice president of Yardi Matrix. “Job losses have been particularly high among apartment renters, and simply collecting rents and maintaining occupancy is a new area of focus for owners and managers.” The report suggests that the pandemic’s influence on work conditions, public health metrics and social trends will continue to impact the housing marketing for the next several years. “If renters decide to eschew urban apartments for a more distanced standard of life in the suburbs or smaller cities, multifamily could...

Today, 10,000 Baby Boomers will reach age 65. As the largest generation in history continues to age, the demands on the senior living industry will increase exponentially. Staffing for this kind of growth is no easy task. In fact, a recent poll showed nearly 80% of senior living CFOs say recruiting and retention is their number one concern as they look toward the future. The challenge, however, is not insurmountable. Armed with the following strategies, finding standout staff is easier than you think. Be proactive The recruiting process often doesn’t begin until a staff member vacates a position. But if you’re looking to add to your workforce overall, simply playing catch-up won’t get you very far. Instead, take inventory of all the roles your company hopes to fill or add over the course of the next year, then work with decision makers and hiring teams to plot out short term goals for your company’s growth. Shifting from a reactive strategy to a proactive one allows for more steady, scalable staffing. Inform unlikely prospects While sixty percent of senior living staff work in resident care, the other forty percent of jobs are comprised of maintenance, administrative, operations, management and food service roles. Communicating the breadth of opportunities is critical to ensure your organization isn’t overlooked by potential job seekers. Consider partnering with vocational schools and colleges to spread the word, get students excited and tap into a new pool of talent while highlighting the range of roles available within your community. Offer unique benefits A little creativity can go a long way when it comes to setting your company apart. Whether it comes in the form of onsite amenities (think company gym and break room snacks), raffles and giveaways, free education, or extra vacation days, fringe benefits make a great recruitment tool and serve as a differentiator between you and the competition. Find the right fit, right from the start In an industry where quality of care is paramount, filling an open position is not plug and play. Take time to suss out how potential employees will fit into your company’s organization—both from a cultural and interpersonal perspective. Going so far as to determine which clients will fall under a new employee’s care will allow hiring managers to more precisely match a prospect’s personality and skill set to that of the patients they’ll be caring for. A better the fit from the get-go lends itself to happier staff members and patients. Utilize existing resources With staffing a known concern in the senior living sector, there’s no shortage of tools available to help ease the pain of recruiting. Industry leader Argentum recently launched Senior Living Works, a website aimed at solving recruiting and retention challenges. Similarly, NCAL, the National Center for Assisted Living, offers hiring materials which outline the most important attributes to look for when seeking new senior living...