recently. He said that about 75% of his employees expressed some interest in moving to a different city if they could work remotely. Certainly, anywhere would be more affordable than living near the Silicon Valley headquarters where the cost of living is ballooning because of a lack of new housing and because of the wealth created by the tech boom.
“These outer rings were once considered next cycle opportunities, or drive to qualify opportunities,” said Woliver. “With more people working from home, these have shifted to ‘now’ opportunities due to cheaper land, resulting in lower home prices.”, a master planned community land investor based in Florida, hopes this trend can help solve the nationwide housing affordability crisis.
Onorato points out that builders don’t have the ability or desire to carry land at the moment, but with the lower cost of remote land becoming more desirable, there may be a land grab as capital starts flowing into home building.Many of the jobs that can be remote happen to be at a higher-level pay grade and very often are also dual-income households. Some households are now made up of many salary-earners as more young adults move home in search of reprieve from suffocating urban apartment life.
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