4 ms·

I wonder how the real estate market will look like in the biggest cities in the coming years. I haven't changed jobs for quite a while so I don't know if this a

by mono442 8mo ago

I wonder how the real estate market will look like in the biggest cities in the coming years. I haven't changed jobs for quite a while so I don't know if this article is accurate but if it's really that bad, then I wouldn't be surprised if we see a big crash. After all, the appeal of biggest cities was always, at least to me, the availability of white collar, highly paid jobs. If these ceased to exist, I don't see reason why people would want to move there anymore.

johnebgd 8mo ago
White flight all over again but this time it’d be white collar flight.
- dyauspitr 8mo ago
  But white collar flight to where? Rural areas don’t have any jobs. There are only so many businesses a town can support. What will people do?
  - joquarky 8mo ago
    > The building we exited was another one of the terrafoam projects. Terrafoam was a super-low-cost building material, and all of the welfare dorms were made out of it. They took a clay-like mud, aerated it into a thick foam, formed it into large panels and fired it like a brick with a mobile furnace. It was cheap and it allowed them to erect large buildings quickly. The robots had put up the building next to ours in a week. > The government had finally figured out that giving choices to people on welfare was not such a great idea, and it was also expensive. Instead of giving people a welfare check, they started putting welfare recipients directly into government housing and serving them meals in a cafeteria. If the government could drive the cost of that housing and food down, it minimized the amount of money they had to spend per welfare recipient. > As the robots took over in the workplace, the number of welfare recipients grew rapidly. Manna replaced tens of millions of minimum wage workers with robots, and terrafoam housing became the warehouse of choice for them. Terrafoam buildings were not pretty, but they were incredibly inexpensive to build and were designed for maximum occupancy https://marshallbrain.com/manna1 https://marshallbrain.com/manna1
smt88 8mo ago
> After all, the appeal of biggest cities was always, at least to me, the availability of white collar, highly paid jobs You are definitely unusual. Since remote work became more common because of Covid, remote workers have moved within the same city or moved to smaller cities. Only 4% relocated to rural areas[1]. Cities are appealing to most people because they have entertainment, variety, walkability, and many other benefits that rural places don't provide. The urbanization of America isn't only because work has changed, but because people generally prefer urban or suburban living over rural living. 1. https://pmc.ncbi.nlm.nih.gov/articles/PMC11551397/ https://pmc.ncbi.nlm.nih.gov/articles/PMC11551397/
- lazide 8mo ago
  ‘Smaller cities’ in the US are what most of the world calls ‘rural’. Rural in the US is truly remote, not just ‘has farmland’.
  - smt88 8mo ago
    > ‘Smaller cities’ in the US are what most of the world calls ‘rural’. What? No it's not. In the study I linked and also for most people's purposes, "smaller city" is something like Milwaukee or Pittsburgh, a place with an urban center, a real downtown, some skyscrapers, and probably a few corporate headquarters.
    - lazide 8mo ago
      Generally smaller cities are the surroundings and suburbs to cities like that.
    - esseph 8mo ago
      To somebody that lives rurally in the US, a town of 10,000 is where you go to get groceries. 100,000 gets you a movie theater and shopping. Pittsburgh? That's basically a megacity.
      - smt88 8mo ago
fock 8mo ago
so: where do you go and what do you do? All your land and food is subject to property laws and the way things are going the owners will be allowed violence to enforce their rights. Essentially you'll be a serf again just like 99% of other people and 95% on this site (which sadly has owners very much intent to become our lords)
- gruez 8mo ago
  >so: where do you go and what do you do? Literally anywhere else where a house doesn't cost 7 figures? I think you're missing the point of the OP, which is that nobody is going to want to buy overpriced houses in superstar cities, and that bodes badly for real estate agents.
  - joquarky 8mo ago
    Private equity will buy them all up and rent them out. We will own nothing and be told to be happy or else.
ta20240528 8mo ago
1. medical specialists and hospitals 2. sports clubs and vibrant leagues 3. professional sports facilities 4. concerts: arts and music. …
- jen20 8mo ago
  5. Bars (and pubs, in appropriate cities) that you can walk to.
  - reeredfdfdf 8mo ago
    It's much cheaper to drink at home when you're unemployed though. I live in a country with seriously rising unemployment rate (highest in EU), and bars/night clubs are going bankrupt left and right here.
    - esseph 8mo ago
      Younger generations are also drinking far less (and smoking more weed, in general).
- reeredfdfdf 8mo ago
  Demand for all those services (with possible exception of essential medical care) will shrink if big portion of white collar workers end up unemployed. Without a job people simply won't have much extra money to spend on them.
conductr 8mo ago
Yes the broader economy would crumble without white collar jobs. They employ many blue collar jobs. It would be a huge shock to economic activity
r33b33 8mo ago
Not only expect to see a "big crash", but expect to see total collapse of Capitalism with French style Revolution within 5 years. There will be blood in the streets literally not methaphorically as it should be. We know people need to eat or else they die painfully. We also know you can buy food with money. We also know job gives money for majority of populus. We also know jobs are being eliminated completely within 5 years and then physical jobs also with robots. So knowing this, if people have no job, no salary, no money to buy food with, they will get their food by force. It's just a logical conclusion. And no, nobody will give you UBI, stop being naive. UBI has been depunked by economists numerous times, it just doesn't wokr mathmetically. World will transition to communism and the upper class will be simply eliminated physically as it has happened in the past. Oh and this is a good thing btw

by mono442 8mo ago

johnebgd 8mo ago

White flight all over again but this time it’d be white collar flight.

dyauspitr 8mo ago
But white collar flight to where? Rural areas don’t have any jobs. There are only so many businesses a town can support. What will people do?
- joquarky 8mo ago
  > The building we exited was another one of the terrafoam projects. Terrafoam was a super-low-cost building material, and all of the welfare dorms were made out of it. They took a clay-like mud, aerated it into a thick foam, formed it into large panels and fired it like a brick with a mobile furnace. It was cheap and it allowed them to erect large buildings quickly. The robots had put up the building next to ours in a week. > The government had finally figured out that giving choices to people on welfare was not such a great idea, and it was also expensive. Instead of giving people a welfare check, they started putting welfare recipients directly into government housing and serving them meals in a cafeteria. If the government could drive the cost of that housing and food down, it minimized the amount of money they had to spend per welfare recipient. > As the robots took over in the workplace, the number of welfare recipients grew rapidly. Manna replaced tens of millions of minimum wage workers with robots, and terrafoam housing became the warehouse of choice for them. Terrafoam buildings were not pretty, but they were incredibly inexpensive to build and were designed for maximum occupancy https://marshallbrain.com/manna1 https://marshallbrain.com/manna1

smt88 8mo ago

> After all, the appeal of biggest cities was always, at least to me, the availability of white collar, highly paid jobs You are definitely unusual. Since remote work became more common because of Covid, remote workers have moved within the same city or moved to smaller cities. Only 4% relocated to rural areas[1]. Cities are appealing to most people because they have entertainment, variety, walkability, and many other benefits that rural places don't provide. The urbanization of America isn't only because work has changed, but because people generally prefer urban or suburban living over rural living. 1. https://pmc.ncbi.nlm.nih.gov/articles/PMC11551397/ https://pmc.ncbi.nlm.nih.gov/articles/PMC11551397/

lazide 8mo ago
‘Smaller cities’ in the US are what most of the world calls ‘rural’. Rural in the US is truly remote, not just ‘has farmland’.
- smt88 8mo ago
  > ‘Smaller cities’ in the US are what most of the world calls ‘rural’. What? No it's not. In the study I linked and also for most people's purposes, "smaller city" is something like Milwaukee or Pittsburgh, a place with an urban center, a real downtown, some skyscrapers, and probably a few corporate headquarters.
  - lazide 8mo ago
    Generally smaller cities are the surroundings and suburbs to cities like that.
  - esseph 8mo ago
    To somebody that lives rurally in the US, a town of 10,000 is where you go to get groceries. 100,000 gets you a movie theater and shopping. Pittsburgh? That's basically a megacity.
    - smt88 8mo ago

fock 8mo ago

so: where do you go and what do you do? All your land and food is subject to property laws and the way things are going the owners will be allowed violence to enforce their rights. Essentially you'll be a serf again just like 99% of other people and 95% on this site (which sadly has owners very much intent to become our lords)

gruez 8mo ago
>so: where do you go and what do you do? Literally anywhere else where a house doesn't cost 7 figures? I think you're missing the point of the OP, which is that nobody is going to want to buy overpriced houses in superstar cities, and that bodes badly for real estate agents.
- joquarky 8mo ago
  Private equity will buy them all up and rent them out. We will own nothing and be told to be happy or else.

ta20240528 8mo ago

1. medical specialists and hospitals 2. sports clubs and vibrant leagues 3. professional sports facilities 4. concerts: arts and music. …

jen20 8mo ago
5. Bars (and pubs, in appropriate cities) that you can walk to.
- reeredfdfdf 8mo ago
  It's much cheaper to drink at home when you're unemployed though. I live in a country with seriously rising unemployment rate (highest in EU), and bars/night clubs are going bankrupt left and right here.
  - esseph 8mo ago
    Younger generations are also drinking far less (and smoking more weed, in general).
reeredfdfdf 8mo ago
Demand for all those services (with possible exception of essential medical care) will shrink if big portion of white collar workers end up unemployed. Without a job people simply won't have much extra money to spend on them.

conductr 8mo ago

Yes the broader economy would crumble without white collar jobs. They employ many blue collar jobs. It would be a huge shock to economic activity

r33b33 8mo ago

Not only expect to see a "big crash", but expect to see total collapse of Capitalism with French style Revolution within 5 years. There will be blood in the streets literally not methaphorically as it should be. We know people need to eat or else they die painfully. We also know you can buy food with money. We also know job gives money for majority of populus. We also know jobs are being eliminated completely within 5 years and then physical jobs also with robots. So knowing this, if people have no job, no salary, no money to buy food with, they will get their food by force. It's just a logical conclusion. And no, nobody will give you UBI, stop being naive. UBI has been depunked by economists numerous times, it just doesn't wokr mathmetically. World will transition to communism and the upper class will be simply eliminated physically as it has happened in the past. Oh and this is a good thing btw