Someone fluent in ghoul please help me understand this article. I read this dreck several times trying to make sense of it and am now experiencing organ failure.
Remote work allows folks who work email jobs to no longer be tethered to an expensive geographic area while still making a salary commensurate with living in an expensive area. They can relocate to less expensive areas, while making inflated salaries, which allow them to buy up any available housing stock.
This is coupled with a tight supply of housing and low mortgage rates. The latter incentives folks to buy homes and possibly spend more, whereas the former pushes the price up because there aren’t homes to sell.
Random PMCs making like 70-140k are not buying up vast tracts of housing anywhere, not even in the rust belt
This strikes me as real “Russia invading Ukraine is causing bread prices to rise” energy it’s not like urban areas are experiencing drops in property values. It’s more expensive everywhere in the US
Seems like it’s just them trying to say “people need to get back in the office to lower housing prices!” It’s the uppity workers who are causing housing to be expensive. Or at the very least, they worked backwards from that premise.
Boomers: “Just move out of big cities, there’s lots of houses”
People do that
Prices skyrocket
Boomers: “it’s your fault for following my advice again”
Housing prices outside of major big cities are going up because the inmates are running the asylum with regard to remote work
