Experts – Getting Started & Next Steps
October 15, 2018
How Tech Startups Have Impacted the Real Estate Markets
There has been a notion going round that there has been an effect on the real estate market thanks to the tech startups and this is what will be explored in this blog post. One thing which is a fact and none can quite be oblivious of is that the world we live in today has shifted to micro. In fact there has been much said and posts done on how the idea of micro-living has gained such momentum and keeps going and growing stronger around.
A number of sectors and industries in the economy have gone micro and as a matter of fact, the real estate market has as well joined in the foray, where we have seen the concept of the micro-politan. The Micropolitan are the small cities that have such small concentrations of population. In a Micropolitan, you will find an area that has one or more population clusters. In these particular clusters, one should have at least a population of more than 10,000 residents. Nevertheless for the sake of categorization, the particular population clusters should not have their members being composed of more than 10,000 clusters.
According to the data and stats from the Census Bureau, there has been seen a steady increase over the years of the micropolitan areas. Looking at these details and stats, it is not anything far from the truth that these urban suburbs and clusters are turning to be the new in-thing for many of the new residents and homebuyers. So how do all these relate to the tech startups, so you may ask and for the answers read more.
By and large there are quite a number of factors that can actually stand to prove the tech startups and industry to be the force behind a host of the changes in the many kinds of markets. Like was clearly mentioned earlier, there has been quite a lot of talk on how the real estate market has been impacted by the tech industry. Here below are some of the reviews of the key points behind all this.
First and foremost is the fact that we have seen such an increase in the number of the tech jobs around and all over. This is a fact that has been even all the more apparent over the past decade.
Second is the fact that tech wages have as well gone on the high.
These facts have as such caused a shift in the homebuyer demographics. The millenials, those within the age group, between 22 and 37, are the ones who compose the tech workforce in the majority. Thanks to the change in the need for work by the millenials, who have had such a serious inclination to work from home, their choice for homes is as well never so much affected by the nearness this may have to their places of work.