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" ... There can be little doubt that Covid has played a big role in creating this boom. Home buying and building had suffered during the worst of last spring’s lockdowns and quarantines. Between January and May last year, sales of new homes fell by some 10% and new home construction dropped 23%. In the subsequent economic re-opening, limited as it has been, housing has benefitted from the pent-up demand created during that time. Housing starts gained 21% in just three months from their May lows to August. But interruptions and catch-ups are only part of the Covid story. The flight from cities so well chronicled in the media these days has extended the positive impact on new home sales and construction. Fear of contagion is clearly a factor here, but perhaps more significant is the work-from-home trend fostered by the anti-virus lockdowns and quarantines. Many can see that even after the vaccines and “herd immunity” have dissipated fears of contagion, this work pattern will continue. Accordingly, many who otherwise would have bided their time waiting to return to the cities, have sought to settle in the suburbs or even farther afield. ... "
" ... Where others might have grown discouraged, Lopez bided his time, refining the concept and letting the demographic boom sell the concept for him, gradually enlisting support from key higher-ups like News Corp. COO Chase Carey, who calls the Hispanic market a "massive opportunity," and Murdoch himself. So thoroughly has the 81-year-old chairman hopped on board that he’s raising his two youngest children to speak Spanish. ... "