San Francisco, CA · Member since 2016 · 7 posts · 0 votes
A large share of blue collar jobs are going to disappear and I think there is no denying that. Some will stay, but the repetitive jobs (transportation, manufacturing, etc.) will all eventually be automated. You can even see it happening today: McDonald CEO stated that machines will eventually replace fast food workers. Uber is already replacing drivers with automated taxis. Amazon just launched its first drone delivery and plans on creating grocery stores without checkout lines.
So my question is, for those that invest in blue collar neighborhoods, does this concern you at all? Returns are good now, but what about in 10-20 years when these technologies truly start maturing and revolutionizing the labor force? I am looking to place my cash in real estate, but I am wondering if it is better to invest in higher end properties for the long run.
Investor · Pittsburgh, PA · Member since 2016 · 46 posts · 10 votes
9y
There is only so much real estate but the population keeps increasing. Laws of supply and demand would suggest real estate is a pretty good bet for the future
Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
9y
@Jamey Mako Globalization is the issue, not automation. Yes, lots of jobs went overseas or migrated South which is despicable, but Services jobs will always be here. Living near a port city and seeing all the trucks moving containers from the ships to the distribution centers says those fun toy drones will NEVER replace high capacity trucking.
If we come to the point that only managers(Chiefs) can afford homes, condos and rentals, then where will all the little Indians go and what will the Chiefs actually manage?