3 ms·

i think remote work goes a long way in resolving this problem. governments are not interested in building new affordable property (at least in the UK). so tho

i think remote work goes a long way in resolving this problem. governments are not interested in building new affordable property (at least in the UK). so those of us who can afford to rent in these cities, but not buy, we should all leave these places...let the landlords default on their speculative house of cards.

mym1990 4y ago
Remote work is essentially what created a large housing cost increase in other cities. Also for cities like NYC, reducing demand will be difficult. NYC has always been a city where lots of people want to live(maybe not you or me, but it does attract a lot of attention). It is historically significant, vibrant, and many parts are beautiful. People will flock there, even as others are leaving.
- 5350-uiop-1130 4y ago
  there is a demographic issue for sure, one which is global, and driven by huge wealth inequality. i see remote working as the default option being a step in the right direction.
  - mym1990 4y ago
    I think the widespread option of remote work is a good step forward. The fact that it came about in such a quick fashion was not ideal for the re-shuffling of the real estate market, but hopefully it will even out in the coming years!
mwt 4y ago
It's just diffusing the problem from urban centers to mid-sized cities elsewhere in the united states. Say for simplicity that the core result of the problem is that people not making astronomical tech/finance/etc. salaries can't live in NYC because people making those salaries are scooping up supply and driving up rent ($5,000/month and higher). Then say the solution is to let some amount of people move to smaller cities and work remotely, enough that NYC prices somehow magically drop 20%. Well, where are those jobs going to go / how much of a salary penalty are people going to take to move from NYC to STL, Austin, Nashville, Columbus, Denver, Ann Arbor, and Raleigh? Because they're not going to suddenly be making the same salaries that engineers already in those cities make, they're going to want more. And they're going to scoop up housing supply and put pressure on those housing markets. The same forces keeping NYC rent at $5,000 have caused places like Nashville to become unlivable for the lifers; your grocery store workers and baristas can't get by with $3,000/month rent there either. It would be lovely if the solution for skyrocketing rents in the big 2-3 urban centers didn't simply shift the problem to every other city, but there's no indication at all that will happen.
AlwaysRock 4y ago
And then the residents in those cities will hate remote tech workers for taking all their affordable rentals. There is not an easy answer here.

mym1990 4y ago

Remote work is essentially what created a large housing cost increase in other cities. Also for cities like NYC, reducing demand will be difficult. NYC has always been a city where lots of people want to live(maybe not you or me, but it does attract a lot of attention). It is historically significant, vibrant, and many parts are beautiful. People will flock there, even as others are leaving.

5350-uiop-1130 4y ago
there is a demographic issue for sure, one which is global, and driven by huge wealth inequality. i see remote working as the default option being a step in the right direction.
- mym1990 4y ago
  I think the widespread option of remote work is a good step forward. The fact that it came about in such a quick fashion was not ideal for the re-shuffling of the real estate market, but hopefully it will even out in the coming years!

mwt 4y ago

It's just diffusing the problem from urban centers to mid-sized cities elsewhere in the united states. Say for simplicity that the core result of the problem is that people not making astronomical tech/finance/etc. salaries can't live in NYC because people making those salaries are scooping up supply and driving up rent ($5,000/month and higher). Then say the solution is to let some amount of people move to smaller cities and work remotely, enough that NYC prices somehow magically drop 20%. Well, where are those jobs going to go / how much of a salary penalty are people going to take to move from NYC to STL, Austin, Nashville, Columbus, Denver, Ann Arbor, and Raleigh? Because they're not going to suddenly be making the same salaries that engineers already in those cities make, they're going to want more. And they're going to scoop up housing supply and put pressure on those housing markets. The same forces keeping NYC rent at $5,000 have caused places like Nashville to become unlivable for the lifers; your grocery store workers and baristas can't get by with $3,000/month rent there either. It would be lovely if the solution for skyrocketing rents in the big 2-3 urban centers didn't simply shift the problem to every other city, but there's no indication at all that will happen.

AlwaysRock 4y ago

And then the residents in those cities will hate remote tech workers for taking all their affordable rentals. There is not an easy answer here.