I’m frequently asked to project ahead to the year 2030 and offer my opinion about the real estate landscape at that future date. Barring another 9/11, pandemic or recession, here’s a glimpse inside my crystal ball.
We’re seeing a mass exodus of people from the 9 to 5 workaday world. In fact, according to a recent article in The Wall Street Journal, “There are now 9.44 million unincorporated self-employed workers—up over 500,000 since the start of the pandemic.” People want to be in charge of their own life. They want to get away from bureaucracy and spend more time with family. They want a fluid and flexible schedule. They want to do work that matters.
Recently we’ve witnessed a lot of disruptors disrupting themselves. A perfect example of this is Zillow’s announcement that it is ceasing its iBuying operations and reducing its workforce by 25% due to massive losses in that division. In my opinion, this confirms what many in the industry have been saying for years: automated valuation models are flawed.
In the pre-pandemic world when I would step out on stage to talk about leading with love, I’d notice some initial discomfort in the audience. They shifted in their seats or broke eye contact with me until I explained what I meant. Now with everything we’ve been through, people are craving better relationships with everyone in their life, including their leaders, and I don’t notice that awkwardness anymore.