A new kind of remote work city just drove a $2 trillion gain in the housing market. ‘Pricey metros and pandemic boomtowns’ are drifting, Redfin finds

The biggest asset class just got even bigger. The national housing market is now worth $47.5 trillion, after its value went up another $2.4 trillion over the last year, according to a preliminary Redfin analysis of more than 90 million homes as of December of last year. The answer, still, lies with the lure of remote work, and a very particular type of city is driving the increase.