Updated almost 9 years ago on . Most recent reply
What will happen in blue collar areas when jobs go away?
A large share of blue collar jobs are going to disappear and I think there is no denying that. Some will stay, but the repetitive jobs (transportation, manufacturing, etc.) will all eventually be automated. You can even see it happening today: McDonald CEO stated that machines will eventually replace fast food workers. Uber is already replacing drivers with automated taxis. Amazon just launched its first drone delivery and plans on creating grocery stores without checkout lines.
So my question is, for those that invest in blue collar neighborhoods, does this concern you at all? Returns are good now, but what about in 10-20 years when these technologies truly start maturing and revolutionizing the labor force? I am looking to place my cash in real estate, but I am wondering if it is better to invest in higher end properties for the long run.