3 ms·
> It's very hard to imagine how the Bay Area could maintain residential real estate pricing if all big tech went full remote. Plenty of people want to live in
by Apocryphon 5y ago
> It's very hard to imagine how the Bay Area could maintain residential real estate pricing if all big tech went full remote.
Plenty of people want to live in the Bay Area beyond those working in big tech. This isn't Detroit; there are plenty of other industries that hire people here. Not to mention all of the working class people who are commuting in from Richmond, Vallejo, and other LCOL areas. People want to move there for the Mediterranean climate. For the political climate. Not to mention the children of locals who have been living at home for extended amounts of time. Long-time renters. Remote work will not bring down real estate prices as much as you believe. Especially since housing scarcity props up the prices.
The real estate market, like all markets of the modern era, can remain irrational for longer than you can remain solvent.