How the Coronavirus will affect Bay Area Housing Market

Didn’t say annually. Over your lifetime you will save way more than 10k that’s for sure. No guarantee you will be better off overall

Want to buy my house :laughing:

Now that I have two kids zooming to class, my network can get really slowed down sometime. The downlink is fine, but the uplink is getting swamped. I have Comcast business which I guess is pretty standard setup around here? If we are doing more WFH we definitely need to have better internet connections. I have been waiting for fiber for years but it never seems to make it to my hood. :sob:

I have att fiber. Huge difference vs Comcast. Never going back.

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Fiber connectivity could be a future must have for a house.

You don’t get webpass/google fiber in SF? I think you just revealed (or at least narrowed down) where you live in SF. :slight_smile:

Facebook just announced 50% WFH for the next 5-10 years.

@manch

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“We’re going to be the most forward-leaning company on remote work at our scale,” CEO Mark Zuckerberg said in an interview with The Verge . “We need to do this in a way that’s thoughtful and responsible, so we’re going to do this in a measured way. But I think that it’s possible that over the next five to 10 years — maybe closer to 10 than five, but somewhere in that range — I think we could get to about half of the company working remotely permanently.”

Mark isn’t being definitive about it. And when this is offered it looks like this will be for L5+ engineers to start with - that makes sense and reduces risk of bad performance. Still I’d wait to see what actions FB takes on the ground vs the posturing in this article.

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WFH in Tahoe. Get a private plane for $200k can fly right to San Carlos airport in one hour.
My neighbor does it all the time. Uses a service cheaper than owning a plane. $200 each way.
Sell your cheapee teepee in Menlo for $3m Buy waterfront in the Keys for $1m. Plus a plane and you are way ahead. Can still rent a room in one of those startup mansions in Atherton for $1k per month.

While both supply and demand have dropped, the relationship between the two went largely unchanged, meaning the drops in supply and demand were generally proportional to each other.

Main reason is…

Second, a foreclosure crisis on the scale of 2008 is unlikely, at least in the near-term, because the federal government has placed a moratorium on foreclosures on federally backed mortgages and directed the mortgage industry to offer mortgage forbearance for up to a year to homeowners who have been impacted financially by the pandemic.

So wait for the moratorium to be lifted.

@harriet needs to have kids :slight_smile: most parents i know (including myself) find it hard to WFH with kids around. Unless the kids are older teens, they are a constant distraction. Also kids are emotionally and physically draining. It’s hard to keep those little devils entertained. benefit of child care is you offload some of this load onto someone else.

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“ Facebook is also looking into supporting permanent remote work for its existing employees. Zuckerberg said he expects only about 25% of Facebook employees to return to their desks initially as the company looks to reopen its offices.
Those choosing to continue working remotely will be required to report their locations to the company, Zuckerberg said. That requirement will take effect on Jan. 1.
We’re setting a date for Jan. 1 for when you either need to move back to where you were, or tell us where you are and we’ll basically adjust your salary to your location at that point," Zuckerberg said.“

Market adjustments!!!
Let’s not dream about moving to Tahoe and expect to earn Bay Area salary :frowning:

Skip one step :scream:

<Rhetorical_Qn>Can zuckerberg accommodate all employees in existing locations in FB offices if “6 feet distance between people” stay on Jan1 2021? </Rhetorical_Qn> FYI, FB employees sit very close to one another with no privacy.

AFAIK, vaccine out for general public use is unlikely on Jan 1 2021.

:+1: Is about time. Only @manch didn’t see the signals.

Won’t cut pay for existing staff. Probably slowdown promotion. New WFH staff would earn much less :mask: Existing staff would then see the writing on the wall.

  • Facebook CEO Mark Zuckerberg on Thursday said he predicts that 50% of the company’s employees could be working remotely within the next five to 10 years.
  • Zuckerberg announced that Facebook is going to “aggressively” ramp up its hiring of remote workers, and the company is going to take a “measured approach” to opening up permanent remote work positions for existing employees.

@Jil What is the impact on RE in BA and share price?