OT: Another Relo to San Diego…

[Coronita]

I’ve been seeing a lot of these posts on linkedin.[img_assist|nid=27450|title=sd|desc=|link=node|align=left|width=700|height=536]

[Andrew32]

Anecdotal of course, but in my new construction community in 92011 around 75 of the 123 homes are built. We’ve gotten to know at least 20+ owners, I would say 50% of them relocated from out of town. On my block alone, we have SF, DC, and Denver. There’s also LA, Minnesota, goes on and on.

Could be skewed if out-of-towners overwhelming buy new construction, especially when it was sold from the priority list, which makes the purchase process easier from afar in my opinion.

[Coronita]

not necessarily schewed. I think it’s pretty much across the board…

[sdrealtor]

heading out play some golf ironically with friends from the East Coast who are considering moving here. Up here we have always had a huge number of people relocating here. I don’t think that’s new. What’s new is who and why a lot of these people coming here are. Was at my pool loosening up the joints in the hot tub this morning and met another one of them. I’ll share their story tomorrow when I have time.

[Coronita]

The other thing that is interesting is that it seems like people fed up with working are a traditional butt-in-your-office-seat are quiting and doing freelancing…

https://www.businesswire.com/news/home/20210803005228/en/Up-to-10-Million-Americans-Turn-to-Freelancing-Amid-The-Great-Resignation-Upwork-Report-Finds

Up to 10 Million Americans Turn to Freelancing Amid The Great Resignation, Upwork Report Finds

SAN FRANCISCO,–(BUSINESS WIRE)–Upwork Inc. (Nasdaq: UPWK), the world’s work marketplace, today released a new research report, “The Great Resignation: From Full-time to Freelance,” which explores why American professionals are leaving their current full-time roles. Utilizing survey data from 4,000 Americans, the report finds that 20%, or 10 million Americans, are considering freelancing to work remotely and gain more flexibility.

As some businesses return to the office, the report finds that many professionals are not willing to sacrifice the ability to work remotely. 17% of professionals — or approximately 9 million workers — working remotely during the pandemic would consider looking for another job if they have to go back to the office. With this rising interest in a more flexible work arrangement outside the office, professionals are not only considering other full-time jobs to stay remote, but freelancing as well. Among those who are definitely planning on quitting, 52% are considering freelancing.

“Many professionals are not happy about the prospects of returning to the office after the pandemic, and are looking for more remote and flexible options,” says Upwork Chief Economist, Adam Ozimek. “Freelancing has always been a career path that provides these benefits more than traditional full-time jobs. Our report indicates that this heightened interest in freelancing is likely to expand the size of the freelance workforce.”

[Anonymous]

Uh, San Diego has always been a transplant city. Nothing revolutionary happening here, other than 10+ years ago the transplants didn’t announce their moves on Facebook or Linkein.

Regarding freelancing and working from home/remote, no shit who wouldn’t want to do this given the choice? But reality will set in for the majority of folks who don’t necessarily have the leverage to force that on their employers.

[an]

[quote=Andrew32]Anecdotal of course, but in my new construction community in 92011 around 75 of the 123 homes are built. We’ve gotten to know at least 20+ owners, I would say 50% of them relocated from out of town. On my block alone, we have SF, DC, and Denver. There’s also LA, Minnesota, goes on and on.

Could be skewed if out-of-towners overwhelming buy new construction, especially when it was sold from the priority list, which makes the purchase process easier from afar in my opinion.[/quote]
I don’t know if out-of-towners would skew to new construction, given the existence of Redfin, Zillow, Zoom, etc. I would think those out-of-towners who wants to be near city center wouldn’t be considering 92011, while those who don’t care but want new would. I think w/ new homes, it’s easier to gather data, since everyone on your street is brand new in owner in the development, while older neighborhoods, you don’t have the ability to gather that kind of data.

[sdrealtor]

[quote=deadzone]Uh, San Diego has always been a transplant city. Nothing revolutionary happening here, other than 10+ years ago the transplants didn’t announce their moves on Facebook or Linkein.

Regarding freelancing and working from home/remote, no shit who wouldn’t want to do this given the choice? But reality will set in for the majority of folks who don’t necessarily have the leverage to force that on their employers.[/quote]

As mentioned above the first half of this is correct. We have always had a large share of people relocating here for work. The second half is what is different.

I love talking to people in every day life and hearing their stories. I do it almost every day multple times. Its why I think I might enjoy driving uber some day to meet lots of interesting people and hear their stories. That would be fun for me.

I live in an active social community and meet lots of new folks all the time. The stories have always been overwhelmingly we moved here for work. Now the stories are overwhelmingly we always wanted to live here and now we can. Ive met numerous folks working remotely and living here by choice. Not just engineers but also executives, freelancers, business owners running businesses far away and more.

Yesterday morning met a guy who moved down a few months ago from Silicon Valley. Spent the last decade plus at one of the FAANG companies. Shares are up more than 50X since he started there. Most of that the last few years. Left his job and taking a year off to spend with his young kids. Already loves it here and said they’ll never leave. Non-stop visitors from Silly Valley. Still owns the house there and plans to sell that in 2 years while he can still take cap gain exclusion. Knows he can easily get a job with his experience anywhere he lives whether remotely or not if he decides to go back to work. Doesnt have to.

Ive been having conversations with people that way in my daily life for more than 20 years here. Nearly everyday I meet people with stories that are far different than what I had been hearing the last 2 decades. The world has changed and even moreso around here

[Anonymous]

[quote=sdrealtor][quote=deadzone]Uh, San Diego has always been a transplant city. Nothing revolutionary happening here, other than 10+ years ago the transplants didn’t announce their moves on Facebook or Linkein.

Regarding freelancing and working from home/remote, no shit who wouldn’t want to do this given the choice? But reality will set in for the majority of folks who don’t necessarily have the leverage to force that on their employers.[/quote]

As mentioned above the first half of this is correct. We have always had a large share of people relocating here for work. The second half is what is different.

I love talking to people in every day life and hearing their stories. I do it almost every day multple times. Its why I think I might enjoy driving uber some day to meet lots of interesting people and hear their stories. That would be fun for me.

I live in an active social community and meet lots of new folks all the time. The stories have always been overwhelmingly we moved here for work. Now the stories are overwhelmingly we always wanted to live here and now we can. Ive met numerous folks working remotely and living here by choice. Not just engineers but also executives, freelancers, business owners running businesses far away and more.

Yesterday morning met a guy who moved down a few months ago from Silicon Valley. Spent the last decade plus at one of the FAANG companies. Shares are up more than 50X since he started there. Most of that the last few years. Left his job and taking a year off to spend with his young kids. Already loves it here and said they’ll never leave. Non-stop visitors from Silly Valley. Still owns the house there and plans to sell that in 2 years while he can still take cap gain exclusion. Knows he can easily get a job with his experience anywhere he lives whether remotely or not if he decides to go back to work. Doesnt have to.

Ive been having conversations with people that way in my daily life for more than 20 years here. Nearly everyday I meet people with stories that are far different than what I had been hearing the last 2 decades. The world has changed and even moreso around here[/quote]

yes perhaps due to the pandemic and (temporary for most) work from home situation it may have motivated some folks who always wanted to move to SD to accelerate their plans. But I also expect this to be a temporary trend like any other pandemic related change.
Long term, it will take strong growth in high paying industry to keep prices high here. Cost of living is still major negative for people choosing to relocate to SD for remote work. Unless you are coming from Bay area or a select few other cities SD prices are problematic.

[Coronita]

.

[Anonymous]

Maybe, only time will tell. But you are assuming the remote work option becomes permanent for a large portion of the population. And further that they will decide to move to San Diego when in theory they could live anywhere in the world, including many nice places with much lower cost of living.

[sdrealtor]

A lot of people have and make a lot more money lots of places than you seem to grasp. Just spent two days golfing with a couple just like that. What we take for granted every day they marvel at. Then I shared a bottle of wine with a friend that is a retired tech CEO / founder from Silicon Valley who is very active in private equity and Angel investing here. His group looks at what is already in place here and see amazing things coming in. Life sciences, tech, pharma etc. They can’t believe it’s taken this long for SD to really step on the worldwide stage front and center for incubating leading edge companies. They are anticipating great things here also. This isn’t coming from someone sitting on the sidelines but rather someone right in the middle of it all

[sdrealtor]

[quote=deadzone]Maybe, only time will tell. But you are assuming the remote work option becomes permanent for a large portion of the population. And further that they will decide to move to San Diego when in theory they could live anywhere in the world, including many nice places with much lower cost of living.[/quote]

Cheaper isn’t necessarily better. Some value cheaper, some value better

[Anonymous]

[quote=sdrealtor]A lot of people have and make a lot more money lots of places than you seem to grasp. Just spent two days golfing with a couple just like that. What we take for granted every day they marvel at. Then I shared a bottle of wine with a friend that is a retired tech CEO / founder from Silicon Valley who is very active in private equity and Angel investing here. His group looks at what is already in place here and see amazing things coming in. Life sciences, tech, pharma etc. They can’t believe it’s taken this long for SD to really step on the worldwide stage front and center for incubating leading edge companies. They are anticipating great things here also. This isn’t coming from someone sitting on the sidelines but rather someone right in the middle of it all[/quote]

Yes I grasp that there is enormous wealth all over the world, always has been. What you don’t grasp is that San Diego isn’t the epicenter. Rich people have had the opportunity to move or invest in San Diego for decades. The work at home thing is not going to be long term driver of SD economy. Actual high paying industry jobs are what will keep San Diego moving higher, not the temporary phenomenon of remote workers moving here. Again, given the entire world to choose from to remote work, San Diego isn’t likely the top destination. Particularly not your precious North County tract home suburbia neighborhoods.

[sdrealtor]

I fully grasp that nor do I think it has to be. To the contrary some very smart, wealthy and influential folks think it’s on its way to being one of them. You look at things too black and white IMO. It’s not one thing it’s the combination of several things. It doesn’t have to be the top destination. I’ve never thought it would be or said that, it just needs to gain market share so to speak which I see happening over time.

SD is building a critical mass of research and development potential far beyond what existed in past decades. Look at all the cranes on the UCSD campus the last 5-10 years. It has grown massively.

I’ve been very fortunate in my life and made many great decisions. Just the same I constantly ask myself what if I’m wrong? It’s not unusual for me to look at the answer to that and bet against myself. Do you ever ask yourself what if I’m wrong and make measured decisions on the results of that?

[Author]

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