How COVID may affect the economic psyche of Americans post pandemic

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Working from home

“I think work from home preferences have changed. As a result, preferences of life in suburban residential housing versus urban living have changed,” said Dennis Hoffman, W. P. Carey School of Business at Arizona State University.

Businesses are noting the benefits of working from home where employees can still be “very productive,” said Hoffman. “Businesses have figured out they can manage people from home, so they are not concerned about [the] loss of productivity,” Hoffman said.

A negative impact

Hoffman says it’s the fear of the pandemic that prevents people from going out to restaurants, movies, or sports events.

“This virus, government action or no government action, has left a really negative imprint on the minds of many and it manifests itself in fear and its progress against the virus that’s going to alleviate the fear and reduce the fear among us,” Hoffman said.

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Dennis Hoffman/Director, L. William Seidman Research Institute at the W. P. Carey School of Business at Arizona State University

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