The Work Remotely Crisis – Effects on city housing market
The internet started to become popular around 1997, but people were not able to work from home on dial-ups limiting speed. Around 2005 high-speed boardband internets adoption started to ramp up https://i.imgur.com/81Ey8Cp.jpg
A few years later the programs become aviable for people to start working remotely / work from home. The main drive pulling people to cities is thier lack of job and the job oportunities that cities hold. With remote work via home computer becoming more popular we can except to see a drop in people willing to move to cities and pay a large premium for the housing there.
Education – Student housing
Its not just work, people also move to attend colleges. Colleges are also becoming aviable online. With the future moving toward MOOC (Massive Open Online Course). Its really no different if you are sitting in a classroom or if a webcamera is sitting in the classroom and you are watching from home. At best students currently only go into a testing center a few times to take the exams.
When going to class everyday it makes sense to live on campus. However if you only go once every other week for a exam, the commute from a much cheaper living space makes sense
Its no dobut that factory jobs are replaced by robots. Cashiers are replaced by self-ordering systems. Retails are repalced by amazon,ect. Yes people want to socialize and come to the city for the entertainment. But who will pay $500k+ for a house vs house/rent 50% off outside of any city
To me today seems like the final years before mass adoption to automation and remote work and education. Right now the fastest growing city is San Francisco, people are moving to work office jobs at tech firms. Most of these jobs are computer based. They certainly will be able to work from home in the coming future. There is no difference between working at a office and being a chatroom with your coworkers and working from home.