[quote=deadzone][quote=Coronita][quote=deadzone][quote=Coronita]The way I would look at it DZ is this remote work option could open the doors for where you want to live and buy a house too.
One gets a lot of newer houses and bigger houses for instance in great parts Riverside County.
If I wasn’t so entrenched where I am with my kid and school, I would seriously consider a nicer home elswehere that would be closer to what I would want out of an ideal home.[/quote]
Of course remote work is a benefit to the employee. I never said I am against it, just pointing out that it is not going to be an option for the vast majority of employees going forward. Whether you or I have a preference to work from home has no influence on what is going to happen.[/quote]
So how is more people going back to the office in San Diego going to impact real estate in San Diego?
Hypothetically, how is going back to the office for a lower cost area like Alabama for someone that relocated from San Diego to Alabama to move to a lower cost area going to impact real estate in San Diego?[/quote]
That’s exactly why I never bought into the idea of WFH being a long term contributor to SD RE growth. Maybe short term during Covid there was a huge influx of Bay area workers moving to San Diego. But long term, I would expect as many, if not more, SD workers to move to other parts of the country if they could make SD or Bay Area salaries working anywhere. Or if a new college graduate from an East Coast University can get 120K Bay Area starting salary working fully remote, would San Diego be the logical choice that they would move to?[/quote]
Again, I think you’re arguing with yourself and arguing in circles.
No one said WFH is the only major contributor…. And no one is saying it’s going to be a continuing factor for more people moving here, especially given that SD real estate isn’t really a bargain anymore relative to other parts of CA.
But it certainly has been a contributor for some people that did relocate here. And they will be here for some time and they will occupy those houses they bought or rented.
No one said that it’s the only contributor, nor did anyone say it’s going to be a sustained contributor. But it certainly was a factor for some people who wanted to stay in California when San Diego real estate was more affordable than it is now. They are here, they bought, as well as folks that relocated here for a new job… Now that real estate in SD getting closer to expensive as LA/OC/SF, its’ probably no lesser of a viable “lower cost” option for more people that don’t have these higher paying, higher compensated jobs, whether they are working remotely or have a new job.
Now housing is considerably more expensive, some people are probably going to need to consider other options elsewhere.
I think you’re missing the point in that those people that did relocate here for whatever reasons and who bought a house aren’t going back anytime soon, and that reduces the housing supply, given that in SD new housing isn’t being built any faster.
