Will working from home ruin tech markets?

Question

San Fran, Seattle, Denver, Austin? What are your thoughts on places with technology as a large sector doing? Some are moving to allow permanently working from home. Hence homes and commercial might dip? These people could work abroad if they wanted to with these changes. Just a thought.

James Carlson · Answer

@Edward Kanive

The trend had started before coronavirus. In both Denver and Colorado Springs, we had numerous clients in the last two years move here from San Francisco and Seattle to get a (slightly) more affordable home and enjoy the lifestyle that Colorado delivers (@Matt M.'s opinion of the area notwithstanding.)

So if more people are now allowed to work from home, that would seem to mean more people moving away from tech centers to cities they want to live in.

Will Fraser · Answer

I think there's going to be some effect in the commercial markets across the board, but especially in high cost cities like the ones you mentioned.

The one mitigating factor in my mind is this:  each time I've been to one of these tech campuses one thing is very clear . . . it's way cooler than my house.  My house does not and will not have a sauna, message staff, cereal bar, sushi chef, nap pods, or any of the other half dozen things that many of these tech campuses offer.  That is a tangible part of the culture machine that these companies have created that has the ability to attract people to it.  So, I'd guess that if 15% of the total tech-worker populace decides to leverage their newfound location independence, the tech companies will have no problem finding 15% more boots to deploy in the office.  Heck, they may end up more profitable as a result!

Alan Brown · Answer

@Ian Boyd and @Matt M.,  mum's the word!

After living in the Colorado mountains for many years, it's sad watching CO turn into CA as the outdoors get loved to death.  I'm now out East, which is far far worse, always a good reminder of why we love the West, and am working on getting back to MT before it, too, has gone the way of the Indian Peaks and the Sierra's.  That being said, BZN has an economy like I"ve never seen anywhere else, which seems to be able to weather almost anything, with a massive aquifer below it that might even, after climate change, be the "last ONLY place".  I just quoted myself. @Brandon Turner  and @David Green take note!

Ian Boyd · Answer

@Matt M. Bozeman is doing really well through this virus.

https://www.bozemandailychronicle.com/coronavirus/bozeman-housing-market-continues-climb-despite-pandemic/article_afd1e701-128b-589f-9ca3-6df22ea5e81d.html

Matt M. · Answer

Let's hope so. Denver has become a hell hole. Traffic is terrible, smog, dog crap on trails, etc. I hear Bozeman is nice.

Will working from home ruin tech markets?

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