alt Hacker NewsI wonder how the real estate market will look like in the biggest cities in the coming years. I haven't changed jobs for quite a while so I don't know if this article is accurate but if it's really that bad, then I wouldn't be surprised if we see a big crash. After all, the appeal of biggest cities was always, at least to me, the availability of white collar, highly paid jobs. If these ceased to exist, I don't see reason why people would want to move there anymore.
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White flight all over again but this time it’d be white collar flight.
1. medical specialists and hospitals 2. sports clubs and vibrant leagues 3. professional sports facilities 4. concerts: arts and music. …
Yes the broader economy would crumble without white collar jobs. They employ many blue collar jobs. It would be a huge shock to economic activity
Not only expect to see a "big crash", but expect to see total collapse of Capitalism with French style Revolution within 5 years. There will be blood in the streets literally not methaphorically as it should be.
We know people need to eat or else they die painfully. We also know you can buy food with money. We also know job gives money for majority of populus. We also know jobs are being eliminated completely within 5 years and then physical jobs also with robots.
So knowing this, if people have no job, no salary, no money to buy food with, they will get their food by force. It's just a logical conclusion.
And no, nobody will give you UBI, stop being naive. UBI has been depunked by economists numerous times, it just doesn't wokr mathmetically. World will transition to communism and the upper class will be simply eliminated physically as it has happened in the past.
Oh and this is a good thing btw
> After all, the appeal of biggest cities was always, at least to me, the availability of white collar, highly paid jobs
You are definitely unusual.
Since remote work became more common because of Covid, remote workers have moved within the same city or moved to smaller cities. Only 4% relocated to rural areas[1].
Cities are appealing to most people because they have entertainment, variety, walkability, and many other benefits that rural places don't provide. The urbanization of America isn't only because work has changed, but because people generally prefer urban or suburban living over rural living.
so: where do you go and what do you do? All your land and food is subject to property laws and the way things are going the owners will be allowed violence to enforce their rights. Essentially you'll be a serf again just like 99% of other people and 95% on this site (which sadly has owners very much intent to become our lords)