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. There is much that has been said and noted about the concept and idea that micro-living is so gaining much momentum and you can have a read of these to see the facts and trends around us.
The economic sectors in their numbers, if not all, have been into this trend and the real estate market as well has not been left out of the trend of micro-living. The micropolitans are actually those cities that have small concentrations of population. The micropolitan areas are by far and large those areas or cities that have one or more population clusters. In the micropolitan setup, one of the clusters in the population concentration must have a minimum of 10,000 residents. As for the sake of categorization, the particular limit that is not to be exceeded by the clusters is to not go beyond the 50,000 members to belong to the Micropolitan category.
Looking at the facts and the stats as have been seen from the Census Bureau, there has been seen quite a significant steady growth of the micropolitan areas over the past few years. From these facts of revelation from stats, it can be concluded that the smaller urban areas are actually attracting the more of the new residents. So how do all these relate to the tech startups, so you may ask and for the answers read more.
By far and large, there are a number of factors that prove to turn the tech industry into such a driving force for the changes that affect the many of the types 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. Take a review of some of the core points to mind.
First and foremost is the fact that tech jobs are on the rise. This is a fact that has been even all the more apparent over the past decade.
Added to this is the fact that the tech wages are as well on the rise.
These facts have as such caused a shift in the homebuyer 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.