1. How has COVID-19 impacted buying and selling real estate in the United States and Canada? Typically, the hope is for a linear path for the homebuying and home selling process. Most of the time, there will be at least slight deviance from the path during the process. Currently, there’s more deviation than is standard, but the real estate market is resilient and somewhat surprisingly resilient in the current times.
1. What is the most common question you are facing with home sales/purchases and how are you addressing it? Are things still closing? The resounding answer is ”yes, they are, but…” We’ve seen some declines and many delays year-over-year in home sales and home purchases, but closings are happening and prices remain steady because of the historically tight inventory availability.
I relocated to San Francisco in 2013. As someone who lives here and works in the cost-of-living industry, I can confirm that SF is one of the most costly places in the world. But, I'm also here to tell you that living here is worth the cost. The Bay Area is a truly wonderful place to live. But organizations often have a hard time relocating talent here due to the cost. But even when we do convince people to move, relocations often fail because organizations don't help relocating employees understand the nuances of the Bay Area and find the right housing fit for them.
May 7, 2020: Join us for a 30-minute webinar to learn more about: Trends related to domestic cost-of-living adjustments as well as lump sum payments for moving costs Case studies — how to leverage cost of living data to communicate the impact of a move to key audiences such as assignees, businesses, and recruiters Tools that can assist you in calculating accurate and location-specific cost differences
What is the best solution for your company: full-service relocation, lump sum amount, or a hybrid approach? It’s a hotly debated topic within corporate relocation programs and is discussed at almost every industry event. Companies must weigh their budget against the level of support they are willing to provide transferees. There’s no easy answer, no one-size-fits-all.
My first domestic relocation happened on Valentine’s Day 2010, a few months after my college graduation. At the time, I was living at home with my parents in Central Mass when I accepted a job offer in Minneapolis. Although I did not know anything about the Midwest, I was beyond excited for my first real (i.e. salaried) job and the adventure that awaited living in a new state.
Worldwide ERC has consistently cited high cost-of-living as one of the main reasons why employees are reluctant to relocate. This issue can have real consequences on your company’s ability to recruit and retain talent in a highly competitive labor market. You may be addressing cost differences in your global assignments, but what about in your domestic relocation program?
AIRINC is delighted to invite you to participate in a benchmark survey focused on executive relocation practices. The survey primarily focuses on US domestic moves but also touches on international one-way relocations and two-way assignments. Responses are anonymous and participants will receive a copy of the results. We hope you can join us!
Understanding Cost of Labor versus Cost of Living assessment: Whether internationally or domestic, there is still the need to get your talent to the right location in the right way, and at the right pay levels. International mobility has additional complications, but domestic mobility continues to trend as a challenge for many organizations and their employees.
As a global mobility professional, does this question sound familiar? Are you more frequently being tasked with managing domestic moves along with your international responsibilities? Although you may think of domestic moves – transfers within the same country – as outside your purview, there are advantages to streamlining international and domestic mobility policies.