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I sympathize. Unironically, I do. Truly. Be very careful over-extrapolating based on known variables. That's my point. For decades we've have the concentratio
by cletus 5y ago
I sympathize. Unironically, I do. Truly.
Be very careful over-extrapolating based on known variables. That's my point.
For decades we've have the concentration of populations in a few urban centers because of employment opportunities and other factors. Two years ago, you wouldn't have even thought about that trend ending anytime soon.
Yet here we are with what seems to be the beginning of a structural change to the employment market to remote work for a significant number of potential jobs. We're not there yet of course. But this seems to have already been a boon to medium-sized regional cities (eg Boise).
This was all possible two years ago but it didn't happen. Covid was a big catalyst. No one predicted that.
Likewise, you see young people rejecting the 30 year mortgage, have kids then retire model that was the norm for Baby Boomers. Living remote, tiny homes, van life, etc.
I fully support residential real estate not being used for money laundering, hiding assets from governments and an exchange-traded asset class, to be clear. The focus there should be on the governments who create the rules that allow this to happen and not the players however.
- djmips 5y agoI don't have numbers but I think that remote working is tech-centric and not available for the majority of workers. Also we'll see if it sticks. In any case, I doubt it will have a big impact on home prices.