[quote=sdrealtor][quote=deadzone][quote=an][quote=deadzone]
Strawman my ass. The number of people fully working from home is going down. Period. Companies are bringing folks back to the office, in droves, that have been working fully from home for 2 years. That’s the whole point. What is this so hard to understand? If you claim fully remote workers were a significant factor in SD (or any other city’s) RE gains over the last 2 years, you can’t also claim that remote workers going back to the office won’t have a negative impact. You can’t have it both ways.[/quote]
Of course number wfh went down. Everyone (except for essential workers) were either WFH or not working. So, yes, it is a strawman cuz no one is arguing with you about that. You’re arguing against yourself on that one. Which is the exact definition of strawman.[/quote]
No, actually people on this site have been arguing this. Many here don’t really understand mathematics. They think just because the WFH folks who moved here aren’t necessarily going back to Bay area, that this is good for the housing market. It doesn’t mean squat becauese they’ve already bought their houses. What matter is growth (positive or negative) going forward. The point is there will be less and less future opportunities to move from Bay Area to SanDiego (or whereever) to wfH going forward so there will be far less demand than there was during Covid.[/quote]
And you dont understand how thinly traded real estate is. My zip code has nearly 50,000 residents. There are currently 3 houses on the market (all way overpriced) and 40 in escrow. You dont really understand mathematics. This is the way its been for quite some time. A nice house comes on the market and dozens flock to see it but it goes to the person with the most money. There is only 1 winner and dozens of losers each time. Every week through life events, people moving up (or down in some cases) a small amount trickles on with hoards awaiting and the hoards are growing. We dont need huge numbers of arrivals from the north to change our markets. One or two a month for any reason change our market. Residents are locked in with sub 3% mortgages, low tax bills and huge potential capital gain taxes. Few want to or have a reason to sell. The point is there will be less and less future housing opportunities to move from Bay Area to San Diego so its perfectly fine that there is far less demand than there was during Covid. The market is not set by the “smart conservative guy” its set by the the “richest dumbass”[/quote]
Agree, sdr, and another point to support “less and less future housing opportunities” going forward, is, many, many of us–including friends, relatives, neighbors etc., etc.,–never, ever plan to sell our real estate holdings–especially in San Diego–but plan to pass everything along to our families, and these decisions have absolutely nothing to do with whether tech or other workers will ultimately work from home or in the office. Not even a minor consideration.
