Everyone is writing about artificial intelligence (AI) and jobs. Fewer people are writing about what happens to the buildings where people live.
That is the piece missing from the conversation and the one that matters most to those of us who allocate capital to housing.
Nearly half of U.S. renters already spend more than 30 percent of their income on housing. That is before AI begins to meaningfully reshape the labor market.
No one knows exactly how quickly AI adoption will affect employment. But investors do not have to predict the future perfectly. They only need to recognize where today’s trends are likely to intersect.
If and when AI-driven income disruption unfolds at scale, housing will feel its effects before policymakers fully respond.
The first wave is likely to hit knowledge work: software engineers, analysts, paralegals, accountants, consultants and middle managers. On-site physical labor appears comparatively insulated for now. That d
