Tech Startups and the Real Estate Markets-Reviewing the Impact
This post will be seeking to explore the idea that there has been an effect that the tech startups have had on the real estate market. The facts we have looking at the trend show us that the world has indeed gone micro. In fact much has been said and written on how the concept of micro-living is gaining such traction.
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. These are basically those cities that have one or more population clusters. In these particular clusters, one should have at least a population of more than 10,000 residents. However, the limit not to exceed to remain categorized as micropolitan the clusters must not exceed 50, 000 residents.
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. In fact, as was noted above, there has been some talk on how the tech industry is impacting the real estate market. The following are some of the core areas and points to mind even as you take a look at the facts behind this.
One of the facts is that there has been an increase in the number of the tech jobs. This has been so much more so over the past decade.
Added to this is the fact that the tech wages are as well on the rise.
These particular facts have as such as well resulted in such a shift in the homebuyer trends and demographics. Looking at the tech workforce, you realize the fact that this is one workforce that is mainly composed of the millenials, those within the age group, 22 to 37. Going by the fact that a number of the workforce composing this category, in which they have been of the inclination to want to work from home, their choice of homes to buy is no longer influenced by the closeness of the facility to their places of work, the physical location of the office.