Rural towns across the US have been a hotspot for remote workers since the COVID-19 pandemic began. While the sudden influx of new residents has been beneficial to local economies to some extent, the true impact of this boom is beginning to reveal itself.
According to a Business Insider report, the recent migration of new affluent neighbors has caused rent and property prices to skyrocket. In some cases, local residents have been pushed out of their communities and forced to live in homeless shelters or set up “tent cities”.
Similarly, the median price of a home sold hit a record high in March – an increase of 15% from the same time last year.
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