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Housing is cheap because the job market is poor. Should enough remote workers choose to relocate to the same rust-belt city we’d see higher housing prices in th
by jt2190 2y ago
Housing is cheap because the job market is poor. Should enough remote workers choose to relocate to the same rust-belt city we’d see higher housing prices in that city. The challenge is that rust-belt cities are just not desirable enough for enough remote workers to reverse the decades of decline. Furthermore, there is no reason that remote workers would cluster by geography other than fear of loosing their remote job and having to return to office, so I don’t think remote workers will be able to turn the tide of the rust-belt.
- Qwertious 2y ago>Furthermore, there is no reason that remote workers would cluster by geography other than fear Amenities. Some things (and communities) just aren't available elsewhere. And some people just value their local identity too much to move.
- jt2190 2y ago> Amenities Yes, but what amenities do rust-belt cities have exclusively, that other cities can’t compete with? > … [Some] people just value their local identity too much. Sure, but I assume that there just aren’t enough of these types to stop the decline of the rust-belt, otherwise we’d see more resilience of their populations.