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This is an extremely important point. Everyone will rush to the cheapest part of the most expensive areas.
by taurath 6y ago
This is an extremely important point. Everyone will rush to the cheapest part of the most expensive areas.
- nojito 6y agoThis is literally how gentrification starts.
- harryh 6y agoWhile the cost of rent is certainly one aspect of where people choose to live, it certainly isn't the only aspect. Tons of people choose to pay more to live in more expensive areas because they find them nicer to live in.
- taurath 6y agoAnd people who want to retire early or buy rather than rent but still live in a nice area will flock to low income areas now that they don’t have to commute into the office.
- belltaco 6y agoIsn't that already the case regardless of remote work? You get paid more in expensive areas, and want to minimize your costs.
- sershe 6y agoHow is East Palo Alto doing? Serious question, when I was still in SFBA I think the houses there were 2 times cheaper than across the highway and the joke was the weather forecast goes "Palo Alto sunny, East Palo Alto sunny, stray bullets". I was wondering if I should buy a rental house then (~2013)...
- taurath 6y agoEast Palo Alto is minimum $1mm homes now. Unaffordable to anyone not in tech.
- ukoki 6y agoYep, adjusted for local taxes. Best strategy is to find a high CoL area with a low taxes and low CoL subregions.