4 ms·
Anecdotally, most of the people I know who moved into remote jobs took the opportunity to move straight into the most expensive, most trendy areas. I know it's
by PragmaticPulp 5y ago
Anecdotally, most of the people I know who moved into remote jobs took the opportunity to move straight into the most expensive, most trendy areas.
I know it's the exact opposite of what everyone was told would happen, but it turns a lot of places are expensive because people want to live there. Letting everyone cut physical ties to their jobs means everyone who wants to live there can now rush in and do it.
- N1H1L 5y agoYep. Which is why Boise, ID is the most expensive real estate market in the country. Remote work is coming with its own issues, rather than being the cure-all HN thinks. In many places, such as East TN (Knoxville) remote workers are moving in with CA salaries. HN thinks that someone remote working from Knoxville, TN should be paid Bay Area salaries. However, Bay Area salaries are high for a reason. There are many Knoxville companies that can't compete with those salaries, which is why they set up Knoxville offices in the first place. But now their employees are suddenly priced out - and no one is happy about it.
- 0x0nyandesu 5y agoThat's the thing. I make a bay area salary working for an east coast tech company. If silicon valley thinks they can pay less they are shooting themselves in the foot and talent will leave. They seriously want to cut salaries in this inflationary market? Lol.
- FredPret 5y agoAnd so, in a wave, money and talent will spread across the globe, from SF to Knoxville and then to the third world
- mandelbrotwurst 5y agoBoise isn't the most expensive real estate market in the country. Maybe the prices have been increasing the fastest?
- N1H1L 5y agohttps://www.cbsnews.com/news/housing-market-boise-idaho-least-affordable/ https://www.cbsnews.com/news/housing-market-boise-idaho-leas...
- aix1 5y agoSo "least affordable" (median house price as a multiple of median income). To me that's quite different from "most expensive" (highest dollar prices).
- jaywalk 5y agoGenerally, the people working in those expensive places got compensated accordingly because it was so expensive to live in those places. So how can people who are not working in those expensive places afford to live in them?
- PragmaticPulp 5y agoI know at least one remote person who got a raise by moving to a more expensive city. Their company had a simple CoL compensation adjustment that only accounts for zip code. Move to a more expensive zip code, get a raise.
- jaywalk 5y agoWell yeah, if you can move somewhere and automatically be compensated accordingly, then it makes perfect sense. I'm thinking about jobs where that sort of thing doesn't happen, as in a remote worker who is going to be paid what they're going to be paid regardless of where they live.
- 0x0nyandesu 5y agoI just bought a house for 900k outside of LA 30 minutes from Malibu. We could have lived in an apartment easily enough but I liquidated 50% of my crypto and stocks to use as down payment. The house is already worth 75k more. It was always the dream. I have no regrets. Yes I could have retired to somewhere cheap but I'm only 34 and my skills are in high demand seeing salaries in the 200k+ range. They are building housing here but so many people want to live here that no matter how much they build it will just all be absorbed immediately.
- jaywalk 5y agoCongrats on that (seriously!) but you were already wealthy and earning the type of salary that allows someone to live out there in the first place. You kind of proved my point.
- 5y ago