Remote work is reshaping San Francisco, as tech workers flee and rents fall

Re:Remote work is reshaping San Francisco, as tech workers f... by neltnerb on Sunday August 16, 2020 @03:26PM (#24180456)

I suppose it's also extremely reasonable to not want to live in close quarters with too many roommates you don't actually know all that well who may or may not be adhering to the same level of safety as you want to.

But if that was it, why isn't NYC seeing the same? Are apartments actually bigger there or more commonly single occupant or something?

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Re:Remote work is reshaping San Francisco, as tech workers f... by mapgrep on Sunday August 16, 2020 @04:44PM (#24181144)

NYC is absolutely seeing the same. Many people went to homes upstate and will not come back. Rents are falling even if some of it is masked with hidden rebates (no broker fee, free months).

It is going to be starkest probably in San Francisco though because 1. Rents were actually higher there to begin with (though they had begun to deteriorate) 2. The employers there are weighted more heavily toward companies able and willing to embrace remote work (that is, tech companies).

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Re:Remote work is reshaping San Francisco, as tech workers f... by nemo44x on Sunday August 16, 2020 @06:52PM (#24182067)

NYC is a ghost town compared to a year ago. There’s about 5% availability in Manhattan right now compared to about 1%-1.5% usually.

Real estate markets around the city (NJ, CN) are on fire right now. People that were maybe thinking about getting more space now have the choice made for them.

When you calculate the tax money you save it opens a world of possibilities. And it’s not like NJ or CN are low tax places! Lots of people moving to Texas and Florida as well I’ve read.

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