Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • EMP Threat
    • Tucker Explains
    • Newport Gas Outage
    • Water
      • Emergency Water Storage
      • Let There Be Water
    • Get Your Gun and Your Training Now
    • Satellite Phones
    • Navy SEAL Survival Kit
  • Your Money
    • Coronavirus Infects Stock Market
    • Looking for a Better America
    • You Invest, They Win
    • Where to Keep Your Cash
    • Paris
    • How to Buy a Boat
    • Dead or Alive? The Future of Long-Term Investing
    • Is Vanguard too Big?
    • Cryptocosm and Life After Google
    • The Last Intelligence Report
    • The Truth Behind the S&P 500
    • RAGE Gauge
    • How Many “Retirees” Will Keep Working?
    • Your Retirement Life
    • You’ll Love This if You’re Dreaming of an Active Retirement Life
  • Weapons
    • Self Defense
    • Every Family Should Own at Least One Shotgun: Here Are Three
  • About Me
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
  • You
    • Our Cabin on Kodiak, Alaska
    • If You Are in Pain, this May Help. It Helped Me.
    • How to Save for a Grandchild
    • FIRE! Financial Independence, Retire Early
    • Compound Interest
    • Arithmetic of Portfolio Losses
    • Maximum Portfolio Withdrawal Rate
    • An Efficient Frontier
    • Retirement Compounders
    • Counterbalanced Total Returns
  • Survive & Thrive
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • Welcome

Zoom, Zoom, Zoom Towns

November 12, 2020 By E.J. Smith - Your Survival Guy

By Comeback Images @ Shutterstock.com

“We joke that it’s becoming a `Zoom town,'” Angelica Webb of Redfin says, referring to the now-familiar video-conferencing platform. Bend, OR, for example, is becoming one.

“A lot of folks are moving to Bend without having ever stepped foot here. They’ve heard good things and want to get out of their cramped San Francisco or Seattle apartments, so they’re coming here and buying awesome, 3,000-square-foot colonial homes.”

The same is true with the migration out of New York City to places like Newport, RI. What it means for restaurants left in the cold is yet to be seen. But it doesn’t have a great feel. Lockdown mandates are picking up steam, especially in blue states. Again.

OK, let’s move on from those “awesome, 3000-square-foot homes” and how obnoxious it sounds and look at what’s happening here. For one, tourist destinations for years have been struggling with retaining customer-facing employees as residents. They’ve been priced out of the market. They live an hour away because it’s what they can afford.

The trend of big money exiting big cities is making small tourist towns full of residents that work via ZOOM. Tourist towns are the new bedroom communities.

The harm being done isn’t measurable yet. But let me share with you two recent experiences I had. In the first, we sat down, and our server said, “You need to put on your mask when I approach you. You need to pull up your mask between bites and sips. And it’s a mandate.” We left. She walked back to the kitchen.

It’s restaurant week in Newport. This is normally a big week for them. We tend to avoid it because it’s so busy. We were out the other night, though, and it was so quiet—empty seats everywhere. I’ve never seen it like this. Stay tuned.

Action Line: Maybe you don’t need that “awesome” home, but you do need to think about escaping the cities. This will be a while.

Liz Lucking reports in Mansion Global:

“I’ve never seen so many New York license plates at open houses in Monmouth County,” Redfin agent Anthony Gonzalez, said in the report. “City folks are coming to New Jersey with New York salaries, and they can get quite a deal here even though competition is fierce. One of my buyers recently lost out on a house because another bidder paid $75,000 over the asking price. Who does that? New Yorkers.”

Indeed, New Yorkers are ditching the state in droves, according to the data.

Almost 47,000 more Redfin.com users looked to leave New York state than move into it during the third quarter, roughly 35% more the same time last year, the report said.

Meanwhile, New York City boroughs account for the three U.S. housing markets that are cooling down the most.

Queens ranked first, followed by Brooklyn and the Bronx. The city saw a greater net outflow of Redfin.com users than any other metro area during the third quarter.

Originally posted November 12, 2020.

The following two tabs change content below.
  • Bio
  • Latest Posts
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
My Twitter profileMy Facebook profileMy Instagram profile

Latest posts by E.J. Smith - Your Survival Guy (see all)

  • Petrified Snow/Ice Fishing? How about a Boat? and More - February 25, 2021
  • COVID Chaos: New York and California vs. Florida and South Dakota - February 24, 2021
  • How One Man and His Family Survived the Texas Deep Freeze - February 24, 2021
  • UPDATE: Your Gun Rights and Freedom Are Under Assault - February 22, 2021
  • Deep Survival, Who Lives, Who Dies, and Why - February 22, 2021

If you enjoyed this post, email it to a friend:

  • Email
  • Print
  • Facebook
  • LinkedIn
  • Twitter
  • WhatsApp

Related Posts

Trending

  • Update: H.R. 127 Hostile to Law Abiding Gun Owners
  • Permitless Carry Corridor Expands: Red States Trouncing Blue States on Freedom
  • Long Live Rush Limbaugh: Our Walk in the Woods
  • America’s Growth Corridors as Written in 2013 by Joel Kotkin
  • Warning! Your Survival Guy’s on a Boil Water Advisory
  • The Election RESET of EPIC Proportions is UnMasked
  • Do You Know Fidelity’s Best Kept Secret Weapon?
  • Tucker Carlson: Big Tech Censors COVID-19 Vaccine Dissent
  • New Assault Helicopter Design to Revolutionize U.S. Army Capabilities
  • Your Retirement Life: Meet Larry the Car Wash Guy

YOUR SURVIVAL GUY MUST READS

  • Investing in Water: LET THERE BE WATER
  • How Can You Succeed When Politicians Treat Your Business Like Their Piggy Bank?
  • New Mexico Sheriff Stands Up for the Constitution
  • Why Vanguard is too Big: Part VIII: You Can’t Know What You Don’t Know
  • Be a Shepherd. You’ll Be Happier. Greed Kills
  • Your Retirement Life: Meet Your BMW Club Racing Program Director
  • How to Hire Investment Counsel: This is the Way
  • CEO Warning: Alternative to Mandatory Vaccines?
  • “I’m a Plodder,” A Prospective Client Told Me Yesterday
  • When Isn’t Money Tight? Read More to Find Out
Only if You’re Serious
50 + Years
Only if You’re Serious
Only if You’re Serious
Only if You’re Serious
Only if You’re Serious
Escape the City
Smith Family Robinson
The Best States for Survival
Only if You’re Serious
Why Vanguard is Too Big for YOU
See Who's Missing the Boat
You Invest, They Win
Emergency Water Storage
Emergency Water Storage
Emergency Water Storage
Why Fidelity is Number One

Copyright © 2021 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.