As a result of the pandemic, many people have made short and long-term lifestyle changes. When the pandemic started, urban locations were hit hard, and many people fled the cities due to the dense population and reduced opportunities for social distancing. However, the attractive lifestyle a post-pandemic bustling city provides will draw some back. The CBRE reports, “There are no indications that 2020’s decline in urban multifamily demand is permanent or there is an impending return to the hollowed-out cities of the 1970s and 1980s. Yet urban submarkets will lag in the multifamily sector’s overall recovery. Lower-density and less-expensive suburban submarkets held up remarkably well in 2020 and are positioned to lead overall market performance in 2021”.