The pandemic reshaped how people work. Nearly a third of employees still worked from home part time or full time as of August 2022. This has significantly increased housing demand, a key factor explaining why U.S. house prices grew 24% between November 2019 and November 2021. The shift to remote work may account for more than half of overall house price increases and similar increases in rents.
The San Francisco Fed is dedicated to building an economy that works for everyone and helping ensure all Americans have the opportunity to fully realize their potential. We champion equity because research has demonstrated it supports our full employment mandate and our mission to promote a healthy and sustainable economy.
The San Francisco Fed is dedicated to building an economy that works for everyone. We thrive on reflecting the people we serve by hiring talented individuals from diverse backgrounds and creating a culture of inclusion where people are respected for what they do and for who they are.