What Is the Impact of Remote Work on Climate and House Prices?

Remote work has skyrocketed in the last year or two, and with it came many changes in climate and house prices. From a lessened dependency on traditional offices and less commuting to changes in economic focus in certain parts of cities, things might never be the same. So here are some of the impacts of remote work on the climate and accommodation.

On the face of it, many of the changes brought about by the COVID-19 pandemic have a positive impact on the climate. The lessened commute to and from work has drastically reduced the amount of CO2 released into the atmosphere by cars, and companies across the board could boast lower energy expenditure. And it does seem that remote work has positive effects, especially when it was connected to the sort of restrictive lockdowns seen during the height of the pandemic.

However, many experts warn that this issue might be more complex than meets the eye. While commute has been down, deliveries and online shopping had increased, which means transportation, a considerable polluter, had risen when everyone was locked in. The lesser energy consumption in the office mostly gets transferred to the worker's homes, and new problems may arise such as heating or air conditioners which only serve one person at a time instead of a whole office of people.

Many people see hybrid work as a possible way out, adding the benefits of both remote works and working from the office. But for the climate, this may be the worst scenario of them all since many of the office's energy expenditures, and carbon footprints won't get offset by people staying home most days. Overall, it seems that there is a shift from one type of work to another. However, our overall systems still need changing before such a significant change as working from home can have a real, positive impact on the environment.

Where the impact of remote work on the climate is far from purely positive, the result of remote work on housing is a different story. The lessened economic activity in some of the most expensive cities could see a drop in prices which could, in turn, open them up for more buyers and renters alike.

Many have also noted that remote work brings options when moving, mainly because workers would no longer have to work and live in the same place. This opens up the market to buyers and renters in areas that would previously not be connected well enough to make commuting to and from work feasible.

However, it also needs to be said that while this is excellent news for those with remote jobs and those who live in larger cities, communities that have been previously affordable due to their relative distance to any urban centre might see their prices rise as a result of new buyers and tenants.

In this way, house prices could sharply increase rather than decrease. Overall, the impact of remote work on housing is hard to predict, but there seem to be some benefits and some downsides. As long as local governments can mitigate the latter and take advantage of the former, there is a good chance that the current expensive housing market could see a much-needed lowering of prices across the board.