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I've been working remotely on short stink for years. The work efficiency is not a problem at all. It's really the big wigs who are resistant to people working fully remote. (what's ironic, they would push for "off shore" work force in say India or Ireland, but wouldn't let the local work force to work from a couple thousand miles away, in the same time zone!)
I'm definitely one of the "glass half full" type. I think this pandemic WILL break this issue out in the open. So many people working successfully from home. All of them would want to continue this to some degree. The flood gate has opened. They can't hold back the tide any more!
Re: Airbnb vs. VRBOIPO this week. Get your limit orders in early.
Different portfolio, I think.Re: Airbnb vs. VRBO
Based on my pandemic experience, if you are a unit owner, VRBO is better for you. If you are a consumer, Airbnb is better. We had a terrible experience with a VRBO host in March when this whole thing started. Airbnb immediately refunded all rentals in full. VRBO did nothing and tried to play the, "gee, we're just a middleman" bullshit. Ultimately we got most of our money back but it was clear that the owner was WAY over her head and like some others had built a rental empire with a flimsy foundation that came crashing down when business stopped.
That’s a good observationDifferent portfolio, I think.
My impression, VRBO are mostly 2nd home owners who count on the rental income to pay their mortgage. So yes, the house of card can come crashing down when the market dries up.
Airbnb has some of those. But many more of Airbnb owner are renting their unused space/property they've already paid off, or can comfortably carry without the rental income. Part of the reason maybe Airbnb hasn't been around long enough to inspire people building such "rental empire" from the ground up as VRBO has?
It's just a speculation of the top of my head.
Depends on what level of "skill".That the latter half makes perfect sense, but if unemployment is so low, one would presume there will be upward wage pressure on the skilled jobs as well.
Regarding last sentence, my son's house in the suburbs of SLC is very similar in style and age to mine in the suburbs of Wash DC , although his has about 10% less square footage. Both homes are pretty basic split foyers. The zillow estimate for his house is less than 50% of mine. That translates to a $400k differential.Depends on what level of "skill".
The upper part of the "skill" is only skill based. You can't just pull someone off the street to work in the surgery center like you could to work in the mail room. You can't even put an unemployed nurse to work as a dental hygienist. The only way to increase supply (when population grows increases demand) is to attract someone from out of the area.
Wage level of the white collar job correlate more to housing cost than to unemployment. When the "real" income looks good, the professionals move in. So as long as housing cost is low, wage for white collar professionals won't move up.
Conversely, when contemplating relocation, don't expect to get the northeast level of pay in Utah. Look instead at what portion of your salary you get to keep. One of my co-worker relocated 2 years ago. They were the perfect example, one of the partner works in IT, the other a bike mechanic. The bike mechanic got a wage increase, the IT specialist took a pay cut. But after only a year there, they bought a pretty big house which they would never dreamt of in Brooklyn (NY)
But after only a year there, they bought a pretty big house which they would never dreamt of in Brooklyn (NY)
Meh, that only worked because they're comparing it to NYC homes, which are among the most expensive on Planet Earth. Same could be said if you used San Francisco or some other crazy high real estate area as your comp, but the reality is, homes are actually very expensive in the Wasatch area on a relative basis for the average American, especially given the incomes are less. Frankly, I think Utah is in a housing bubble right now, which is likely only sustainable if more people from CA keep moving in after cashing out their high-priced CA homes! lol