How the Coronavirus will affect Bay Area Housing Market

Berkeley seems to be doing fine, down from Jan but about the same levels as this time last year. Would it be a good time to sell soon, or wait until Feb?

With coronavirus, whether classes will be held on campus this fall is still up in the air.

I expect real estate prices to appreciate simply due to dilution of money due to massive money printing (2.3 Trillion?) in the last two months. When money is printed, the value of $ drops. The prices must rise to compensate the loss of purchasing power of the Dollar if the RE is still holding the same value as before printing.

These are very good points. As I have said earlier, an equilibrium point will emerge, which could be different for different company, where the benefit of WFH and disadvantage of WFH will even out. Nature is full of equilibrium as it often works under opposite forces.

Added Later: Some efficiency of working from home will disappear once economy opens up. People working form home will start gong out, for meeting friends at lunch, or for haircut, or for dental appointment, or to do random chores, they will not be able to spent as much time on work as they could do locked in home with nothing else to do.

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Obvious :nerd_face: what we want to know is the impact on rentals. We are hyperventilating on where is the equilibrium. If the equilibrium is only a small percentage WFH, probably not much impact.

Because you have spent during Spring :slight_smile:

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ByteDance has expanded TikTok’s engineering and research and development operations in Mountain View, California, according to three sources. One of the people said it had hired more than 150 engineers there.

Not 100% remote engineers in Iowa or Texas?

:thinking:

I lost one of my guy to that!!!

How’s their comp package compared to FB? I guess can’t beat pre-IPO stock.

You realize even 10-20% would have a huge impact on RE values in a market where 2-3% of homes are sold each year.

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Are you seeing 20% of your staff moving out of state to be 100% remote?

If 20% do, or even 10%, then sure it will have a sizable impact. Show me the numbers to convince me that’s really what’s happening.

Are they preparing ground to make background checks illegal and declare them discriminatory?

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The math is pretty simple. Offices can only hold 30% of their former level. That means 70% of people will be working remote. The main thing stopping remote work was fear over productivity. All the data says people are more productive, so the fear is gone. Just look at companies announcing they’ll be 50-100% remote. Do you think in 5-10 years people will see any value in being a commutable distance? This will be especially true in tech centers. Hardly anyone working in tech is from those places. Everyone is transplants. If they can make similar money and go live near family, they will.

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Let me know how many in your place are moving out of state and going 100% remote. Companies can make make all kinds of announcement. What did Zuck say when he spent billions building fancy campus? Why did Steve Jobs want to have only one bathroom for the entire apple spaceship?

I’d love to see actually numbers not hand wavy “trends”. When do you expect 20% of tech workers will move out of Bay Area? One year? 5? 10?