Remote work destroyed communities

[Anonymous]

Remote work has destroyed entire towns. This will be a controversial thing to say here, as it probably hasn’t affected anyone in DC, but entire cities that were once affordable to its workforce have become utterly unaffordable to anyone who works there. Case in point: Nashville, Miami, countless beautiful towns in NC, SC, TN, AZ, FL. So where are all these workers supposed to live now that remote workers jacked up prices by 3x?

[Anonymous]

Same thing people in DC do when they can’t afford to buy a house in a desirable neighborhood. They rent longer, move someplace else (maybe less desirable), buy something smaller, or move further out.

[Anonymous]

What percentage of Nashville residents do you think work remotely on California or NYC pay scales? Nashville is just the current popular 'affordable' city that is no longer affordable. Austin just went through the same thing.

[Anonymous]

Anonymous wrote:Remote work has destroyed entire towns. This will be a controversial thing to say here, as it probably hasn’t affected anyone in DC, but entire cities that were once affordable to its workforce have become utterly unaffordable to anyone who works there. Case in point: Nashville, Miami, countless beautiful towns in NC, SC, TN, AZ, FL. So where are all these workers supposed to live now that remote workers jacked up prices by 3x?

What are you saying, that capitalism s*cks?

[Anonymous]

Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

[Anonymous]

Now calculate how much fuel/electricity/water/gas has been saved, and write a post about telework has made a positive impact on the environment, thus making communities healthier and stronger.

Or is that too much logic for you?

[Anonymous]

OP. I also telework but I stayed in my own house. Sadly, I can’t ever move now. I don’t make NYC or CA salaries and live in a low COL area that locals are now locked out of.

[Anonymous]

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

This.

[Anonymous]

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

When home prices go up 3x or more, and all the new buyers are from NY… that’s the reason, not restrictive zoning.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

When home prices go up 3x or more, and all the new buyers are from NY… that’s the reason, not restrictive zoning.

do locals not have bootstraps?

[Anonymous]

Anonymous wrote:OP. I also telework but I stayed in my own house. Sadly, I can’t ever move now. I don’t make NYC or CA salaries and live in a low COL area that locals are now locked out of.

I think a lot of people are forced to stay put in their current house because interest rates shot up, making monthly payments go up by like $1,000.

Before that, people were forced to stay out in their current house because housing prices were increasingly rapidly because of artificially low interest rates.

Before that, housing prices were out of control because of creative financing, backed by the government.

The housing economy you grew up in has not been attainable for nearly 30 years.

[Anonymous]

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

Low interest rates and zoning had little effect on housing prices there over the last few decades. Higher prices simply aren’t supported by local incomes. That’s why prices just totally spiked during Covid, when every Tom Dick and Harry from NY and CA moved there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

When home prices go up 3x or more, and all the new buyers are from NY… that’s the reason, not restrictive zoning.

do locals not have bootstraps?

Your schadenfreude is misplaced.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP. I also telework but I stayed in my own house. Sadly, I can’t ever move now. I don’t make NYC or CA salaries and live in a low COL area that locals are now locked out of.

I think a lot of people are forced to stay put in their current house because interest rates shot up, making monthly payments go up by like $1,000.

Before that, people were forced to stay out in their current house because housing prices were increasingly rapidly because of artificially low interest rates.

Before that, housing prices were out of control because of creative financing, backed by the government.

The housing economy you grew up in has not been attainable for nearly 30 years.

People moved all the time… Not sure what you’re gaining by denying that the influx of wealthy remote workers had a tremendous effect on local RE prices. I see it every day. But sure - from your low cost DC bubble, it’s easy to preach.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sure....it's remote work. It couldn't be artificial inflation of property values due to interest rates, low supplies because builders didn't build for 20 years, nor the restrictive zoning laws everywhere that make it impossible to build affordable homes.

HOAs should be banned from existence for starters.

When home prices go up 3x or more, and all the new buyers are from NY… that’s the reason, not restrictive zoning.

do locals not have bootstraps?

Your schadenfreude is misplaced.

These are cities in the most conservative states in the country mad about capitalism. Personally, I appreciate the irony