Yeah, people had been cooped up inside, already upset and anxious and that was just that catalyst for them to spill out onto the streets.
I haven’t read the thread yet, but realtors are saying all the big cities are losing people due to the work at home phenomenon, and especially NYC and San Francisco. People don’t need to pay the inflated real estate prices anymore when they can live in the burbs and work from home The pandemic is really fueling things as well.
Thanks, makes a bit of sense. What about the epidemic is fueling it do you think?
From what I’ve read a lot of younger people, if they can work remotely, are choosing to move. They don’t want to raise their kids in the current environment.
Then there is the cost of living, taxes and increasing crime rates.
The mayor is a moron as well as the Governor.
Futures look brighter elsewhere.
People working at home. I can think of half a dozen friends and relatives working at home that never did until the pandemic. For some companies, it is working out well.
It’s working out well for me too, as they are buying and building a lot of houses. Mid and upper level executives by the truckload.
I found this.
Seems the wealthy.
And this
I wonder what the medium and long term impacts will be.
Tax collection medium.
Also I would like to see what happens to commercial real estate in nyc When half the companies realize that production isn’t going down during remote work what are the prices for commercial real estate going to look like and how is that going to affect the city long term
2 Likes
Lots of homes and land going for stupid prices, round here, and northward. Mostly NYers, RIers and those ratholers from Conn.
You’re in New Hampshire?
Medium, loss of tax base and possible blight. Housing prices drop.
Long term, probably investors and urban renewal. Housing prices rise.
There is money to be made in this crisis. And for the politicians, never let a crisis go to waste. 
Yes.
My business partner and I have been negotiating for 200 acres of farm land, and a hundred of current use, for a minute.
Reasonable price, and costs. Just working details on variance and a subdiv on the current use.
We got hosed by a NYC cash only, 1.5 above, all costs by buyer, stealth hit.
225k homes in my area are going at 325k. 75, 100 acre lots in the lakes are vanishing.
I hope it works out for you. That’s a shame.
Doesn’t seem “fair”.
Eh, that’s business. We were going to farm it. Doubt the buyer will do the same.
But, thank you.
I doubt it too. It’s a shame sellers don’t take intention into account sometimes.
I have no doubt you would be a better neighbor than some yahoo from NYC.
Residential rents have already started to go down in NYC.
Friends of mine are using this time as an opportunity to upgrade to better places.
3 Likes
So it’s policies causing it?
Yep. My daughters husband is one of them. Before the pandemic, they had twice weekly in office meetings. other three days work from home. They lived in LA – and paid a ■■■■ ton of money for a little studio apartment. By little I mean kitchen table, bed, and a couch would fit in it.
After the pandemic, the company bought a virtual meeting software system (not something like zoom or facebook or anything, but a business specific, have to have the same software both ends) and stopped the twice a week in office meetings and started doing them virually.
Couple months later the business informed the employee’s that this would be how it will work from here on out. Moved the execs out of the office, and told the employee’s they could live anyplace they wanted in the country as long as internent service met certain conditions.
Long story short, my daughter and her husbands 6 figure income is now in Utah. No longer paying the california tax (and the tax on gas, the tax on groceries – my daughter said she even thinks there may have been a tax on breathing air in LA).
Now Utah is getting a much smaller amount of their money (in taxes). And they pay a lot less rent and live in a much much larger 2 bedroom apartment in a nicer neighborhood (than they were in LA). Only thing they say they miss is the rooftop patio with grills and pool.
1 Like
I don’t want to get off topic but I think the REITs are gonna get pummeled.
Back on topic I moved from Chicago pretty much because of taxes and cost of living.
1 Like
Were you actually in the city?
Edison Park, furthest neighborhood northwest, worked everywhere in the city limits for the gas utility there. @SneakySFDude
1 Like
