South Rent Markets Clean Bowled, Poor States do better
We use Google Trends to estimate which States have a steady rent market and which states are struggling on account of the Corona crisis.
Rent Market: Top 5 States, Last 12 months
- Madhya Pradesh
3 out of the top 5 States are in the list of top 5 poor states. 4 out of the 5 States are top outward migrating states. It is likely that returning migrants and low incidence of Corona is helping the poor states.
Rent Market: Bottom 5 States, Last 12 months (Worst on the top)
- Tamil Nadu
4 out of the 5 states are from the South and also some of the currently worst performing states on COVID-19. Assam is the only poor state where the rental market has not done well.
Overall, states with lot of inward migration are struggling quite a bit compared to states with lot of external migration. Bihar and Jharkhand have actually seen an increase in the last 12 months. However, things could change quite a bit once states recover from Corona.