I think we can all agree that technology has changed how and where people work. Central Oregon has experienced this firsthand with the large number of people moving here to work remotely. This change provides new opportunities for real estate investment in areas that may have been previously overlooked.
The following is courtesy of Tim Ferriss and the Hustle:
'Second hubs’ will redefine how we live and work
"I expect to see the emergence of vibrant 'second hubs,' located just outside of comfortable commuting distance from bustling cities. Many sleeper towns will take on new surges of activity and investment.
Looking at frequent comments from my audience, I'm seeing a pattern of 30- and 40-somethings who are sick of urban noise relocating to places outside of cities like Austin (e.g., Dripping Springs) and NYC (e.g., much of Hudson Valley).
Sleeper towns will benefit as urban dwellers seek refuge from high prices
Commuting from the quiet comfort of your home to work in more hectic places is nothing new, but I'm referring to something different. During rush hours, these places are 1-2.5 hours from a large city.
And the people who live and work here are happy to help start or fund restaurants and businesses to increase recreational options. They’re also happy to avoid the city altogether, except for a few times a quarter or a few times per year.
These locations are still very conveniently located, just not convenient enough for daily commuting. Some other trends that will help drive this are increasingly ubiquitous and fast broadband, co-working spaces, cloud-computing services for freelancers/solopreneurs/entrepreneurs (e.g., Shopify, FreshBooks), and skyrocketing costs of living in many cities.
Assuming we continue to procreate, cities get louder and more expensive, and the world continues to move towards a distributed gig economy, I think this all is a safe bet."