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Reply to "Housing prices have gone insane"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The poster about Annapolis is not entirely wrong...although he/she comes across a bit rough. However, I'm sure he/she is fed up with people arguing with him/her about their choices. WFH is real, it's here, now, and it's not gonna go away. We're seeing a seismic shift in the American culture. I'm not saying cities/dense urban areas are gonna die, but their value proposition is diminishing. I suspect a few years from now, these so called urban areas will be a lot more "cheaper" in many different ways than they had been until 2019. And yes, I think the big house, with a big lot, a bit (or more) further out, is gonna be back in vogue. It has to be. It makes sense. Technology has outpaced the need to be near your job, for a lot of jobs. We'll be seeing the real world effects of that in the next few years.[/quote] WFH is not [b]the panacea you think[/b]. Companies can’t work with all work remotes just IC work that requires little collaboration or innovation. We have coasted this year off a) prior dynamics established in person and b) working more hours b/c we have nothing better to do. Jobs like the accountant who just tabulates data, sure they may stay WFH unless there are security breaches and all of a sudden financial data is air gapped at the HQ. [/quote] But it is. That's exactly what I *think* (completely my opinion). Collaboration "in person" is over rated. Like I said earlier, technology has far outpaced that. 10 years ago, live, high definition, video conferencing, with all of the associated collaboration tools, was a pipe dream for the masses, it was only available to rarified circles. Today? It is ubiquitous. Tomorrow? It'll get even better, with VR, AR, 5/6g and hardware innovations. Innovation "in person" again is overrated. Yes, there are a few unique situations where it makes absolute sense, but not so for the vast majority of the jobs. A vast majority of the white collar jobs (law, IT, accounting, even tele-health in the future, customer support, banking, finance etc etc) can absolutely be done remotely, and can be remotely very successfully. This year proved it. Buying a house is a very long term view, so is commercial real estate/leasing. Take one guess as to why the commercial real estate market is going down the drain in urban cores. Housing in those urban cores is starting to tumble, though not as badly as commercial, just yet. It'll get worse over time. I AM a buyer in the current market (sold our house a few years ago for a number of reasons and been renting since) and I'm not even considering urban cores. At all. I can easily afford Mclean/Arlington/DC/Potomac/Bethesda, but I'm not even looking in those areas. I'm looking at areas that have basic infrastructure sorted out (high speed internet, gas lines, good electric (110/220v, over 400a availability), preferably underground util lines etc), good lot sizes (2ac and above), good housing stock, even if older. - I'm not keeping good schools at the top of my list, because as demographics change over the next few years, schools will change with that. Once a neighborhood gets a good number of higher income/wealth people, schools automatically change. - I'm not keeping the political views of the community on my list either. Read above. As an e.g. I'm looking at Western Loudoun county, Richmond, Frederick, Anne Arundel county on the local radar.[/quote]
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