What the larger migration patterns are showing us about the pandemic.

Last year, an unusually large number of people left places like the Bay Area and New York to seek out more space and more affordable living during the pandemic. The work-from-home boom led to a lot of folks realizing they didn't need to live close to their jobs in expensive cities anymore—and many of them bolted.

But a New York Times analysis of the migration patterns of the last year-plus shows that the same cities that were attracting (and repelling) residents before the pandemic continued seeing similar trends during it. And most of the cities with the largest growth in jobs during the pandemic were also trending similarly in 2019.

And, essentially, Austin is still the next Austin.

What that means for the Bay Area? Well, as we've shown in recent newsletters, competition for homes on the market has only intensified despite some folks fleeing.

But continued flexibility on the work-from-home front is likely going to be in high demand even from employees who stay put, because of needs like childcare and because of energy- and time-sucking commutes that no longer seem necessary.