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From my personal contacts, it seems that those who can afford it are now moving out of the cities or acquiring rural "vacation" homes. The people I know who are buying are all upper managers or higher in salary.

Our Southern California beach city has seen 60% increase in home sales over last year and the median price is on more higher priced homes than is typical. These are almost all single family homes with space. If you have to work from home, it is nice to have an extra bedroom or dedicated office.

Or families are expanding as relatives are moving in?

Hmm, maybe, several apartments merging to one house could explain it.

If so that bodes ill for apartment-building-owners.