“Ditch the Doorman for the Cul-de-Sac”

[Coronita]

[quote=XBoxBoy]Yet another article:

https://www.foxbusiness.com/technology/remote-work-is-reshaping-san-francisco-as-tech-workers-flee-and-rents-fall

What I’m wondering is if people leaving these major metropolises is driving the current hot real estate market in San Diego? Or is it just low interest rates allowing people a good opportunity to buy their first house or move up? What happens if people move out of London, NYC, San Fran, but in a year employers are done with work from home?[/quote]

Not so sure. I think at least for many tech companies now that companies are more remote friendly it’s unlikely things will return to in office only in the near to mid term.

For one thing, my company cancelled their office lease and we no longer have a San Diego office. Everyone in San Diego is now a remote employee

That might be on the extreme, but some companies probably don’t need to maintain a large physical office moving forward.

Also, now that remote working is more acceptable, it’s entirely possible to find a great person in Florida and pay him/her slightly lover than Bay Area wages which would make him/her thrilled compared to how much he could make working at a local company in Florida. I had a person quit in a group in Florida because a bay area company will allow him to work remotely and he will be making 38% more than he would if he worked in a comparable Florida company.

This probably won’t drive wages down significantly locally, but it will make wages more competitive irrespective of geography and locally companies no longer need to spend expensive local wages on just mediocre talent. Take a Site Reliability Engineer. Since most of things are in the clouds, there’s really no reason why an SRE has to be based here in San Diego. Good SRE’s are hard to find, so rather than spend a boatload on a mediocre SRE in SD, one could find a great candidate anywhere and pay them SD wages to work remotely.

[svelte]

[quote=spdrun]

hey spent months with their 1 year old only being able to watch the traffic go by out the window, not leaving the apartment.

Out of curiosity, why did they do that? No US city had a lockdown that prohibited going outside to that extent.[/quote]

Because the mother is pregnant with twins. She has a difficult time with pregnancies and they didn’t want to be exposed to CV to ensure it did not impact her unborn.

[spdrun]

Got it, makes a lot of sense in that instance.

[The-Shoveler]

The Issue as I understand it in NYC currently is that the rich (in which most the cities taxes comes from) are not in a hurry to return and may never come back especially since NYC wants to increase taxes on them to pay for all this.

Actually same issue for LA.

[spdrun]

There was talk of a state tax hike on unrealized capital gains, but no one is in a rush to pass it.

NYC is likely to return to some state of normalcy faster than the rest of the US, partially because we were hit so hard in the first place:

Also bodes well for a vaccine:

I’d argue that if NYC loses say 5-10% of population, it may be a good thing … the city has been a victim of its own success to some extent recently, basically until COVId. Sky-high housing prices, housing shortages, horrible traffic, useful businesses, the arts, music, etc being pushed out by “flagship” stores or high-end stores with maybe one customer per hour.

[scaredyclassic]

Nyc could lose 30 perc of pop. And be too crowded. If rents were half, people could have some room to live.

[The-Shoveler]

Maybe Not so much a NYC thing, but in the more recently gentrified cities seem to be hot spots for the protests going on currently.

Kind of puts a dampener on housing currently in those Areas IMO.

[spdrun]

The protests are a necessary and moral response to decades of over-policing and mass incarceration. If anything, they need to expand to encompass justice reform. Reduce sentences, abolish life without parole (default parole in 10-20 years unless the inmate is someone like Manson and a parole board votes affirmatively to keep them jailed). Abolish laws against victimless crimes, or at least deprioritize their enforcement.

This shows where the priorities of many Americans are — they like their authoritarianism and are happy to pay good money to not be reminded of how screwed up our system is. The violence at the protests is a real issue, but I’d argue that it was being deliberately provoked. When the random mercenary types left Portland, things calmed down a few notches.

[The-Shoveler]

OK Just seems it may also be turning into a war on gentrification as well.

[scaredyclassic]

When we start blaming the NRA for school shootings, it seems fair to blame the protestors for the lootings.

Deal?

[The-Shoveler]

OK,

Just a FYI, Protesters are now demanding you give up your home in gentrified Portland.

[scaredyclassic]

[quote=The-Shoveler]OK,

Just a FYI, Protesters are now demanding you give up your home in gentrified Portland.[/quote]

Ok. Just fyi, A few morons with guns were screaming in a threatening manner at legislators in the capitol about masks.

Whats your point? Protesting in america is too dangerous if some people protesting yell upsetting things?

Hell, even fucking nazis get to mar h and the aclu will protect them. But america is so fragile no one may inartfully mention controversial things, like reparations.

https://www.aclu.org/other/aclu-history-taking-stand-free-speech-skokie

[The-Shoveler]

Still does not make me want to buy an expensive home in a recently gentrified neighborhood LOL.

But to each their own.

[scaredyclassic]

[quote=The-Shoveler]Still does not make me want to buy an expensive home in a recently gentrified neighborhood LOL.

But to each their own.[/quote]

You used the term war, not protest. Like exercising ones rights is an assault on the social order.

Frankly, your property values, all of our prop. Values, are based on the rule of law, on the stability it brings to america.

Shut down some protestors with terring federal military troops,, yeah, might benefit real estate values in one zip code.

But if thats the kind of nation you want to live in, well, youre bring down all our values.

America. Land of the formerly free, take a boot to the face and shut the fuck up, home of the brave enough to give all power to an authoritarian nitwit.

Im actually a tiny bit afraid to stay here but have no exit plan

lol

[The-Shoveler]

But it still does not make me want to buy an expensive home in a recently gentrified neighborhood.

[Author]

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