[quote=deadzone]Regarding commercial real estate, since we are focusing on Tech industry in this thread why don’t we watch Qualcomm as a barometer since they are the largest tech company in San Diego.
So what are their plans for bringing employees back to the office? Or if they are seriously going full remote on permanent basis, then they should be jettisoning a lot of their office space. Is this happening? Anyone know?[/quote]
It’s hybrid. 2-3 days at work, exceptions can be made. Qualcomm never had plans to go full remote…ever…
Again, you are arguing with yourself here in cirles. Not sure what you are trying to get at.
Are you saying because a bunch of Qualcomm people are going back to the office, the demand for real estate here will suddenly drop off?
If so, that makes no sense.
Whether Qualcomm is going back to the office or not doesn’t matter. Qualcomm is based here SD. so if people need to work in the office, they need a home here SD. If they were working remote, they still need a home here in SD. So how is Qualcomm being fully remote or hybrid or fully on office matter to the local SD housing market?
The only difference would be a employer not based here in San Diego allowing people to work anywhere.Like tenant that signed a 2 year lease. Both are in marketing and work remote. She has to show up every so often to either the satellite office in OldTown or meet quarterly in LA. But other tha that they will stay down here and send their kids to school on DelMarUnified for $5000/month for 2800 sqft versus previously spending $5000/month for a 2/2 apt in Culver City with Culver City schools…
So, there are some transplants.
And there’s a lot of job growth here in SD where new people have new high paid biotech/life sciences job..That also means people need housing.
So why does.a few large companies saying they are doing a hybrid model make a signficant difference in the SD housing demand?
There appears to be 3 different categories of people living and working here and the remote workers is only one of those 3.
BTW: hybird model works if the job is in LA or OC. If one only.needs.to show up for work 1-2 days, so.e people dont mind taking the coaster to OC for example. I had a patent attorney friend that did that years ago…
