The cost of everyone has and will continue dropping. Among the people who'll be cheaper, more experienced out of work people who already got into the shit housing market early will outbid younger more desperate people who can't afford to take cheaper salaries.
I don't think we've ever seen that happen. I'm skeptical that it ever will. Costs go up as one gets older - family cost more , healthcare, etc. The company isn't just paying for your salary, They're paying for your benefits too.
If you're factoring in cost of living to outbid someone, then clearly offshore could outbid onshore and the problem still stands.
Personal costs shouldn't necessarily go down but also shouldn't inflate to require absurd salaries though. If you bought a home 10 years ago with a $250k salary, and are suddenly out of work along with everyone else, you have downward pressure on your asking price, but might have a better chance of tolerating it than someone who'll need a downpayment and to secure a long-term extremely high salary to service a brand new mortgage at a higher interest rate
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The cost of everyone has and will continue dropping. Among the people who'll be cheaper, more experienced out of work people who already got into the shit housing market early will outbid younger more desperate people who can't afford to take cheaper salaries.
I don't think we've ever seen that happen. I'm skeptical that it ever will. Costs go up as one gets older - family cost more , healthcare, etc. The company isn't just paying for your salary, They're paying for your benefits too.
If you're factoring in cost of living to outbid someone, then clearly offshore could outbid onshore and the problem still stands.
Personal costs shouldn't necessarily go down but also shouldn't inflate to require absurd salaries though. If you bought a home 10 years ago with a $250k salary, and are suddenly out of work along with everyone else, you have downward pressure on your asking price, but might have a better chance of tolerating it than someone who'll need a downpayment and to secure a long-term extremely high salary to service a brand new mortgage at a higher interest rate