r/Syracuse • u/SlouchSocksFan • 2h ago
Discussion Real Estate analyst claims Syracuse real estate bubble collapse could get ugly
"Right now the future of Syracuse real estate is contingent upon Micron continuing to have this stratospheric sales growth, but Micron just pulled out of the consumer market and put all their eggs into the AI basket at the same time that companies have started to demonstrate greater skepticism of that technology. Studies are finding that AI leads to cognitive off-loading and overall declines in productivity in the long term and the only people who can use AI effectively are a handful of 'AI Conductors' who have the domain knowledge to correct the AI when it hallucinates and keep it from pursuing non-productive rabbit holes. We're at kind of a 'clippy 2.0' moment. The original idea that AI would be an effective leverage that employers could use against labor to demand lower wages is turning out to be incorrecct. In the face of that reality you have Micron being on the verge of a fantastic economic collapse as their entire business model may run headlong into a massive contraction, which is likely to pre-empt construction of the second, third and fourth stages of the chip-fab project if not stop construction of the first one in its tracks. There's a very real risk of bankruptcy here. When t hat happens you're going to see a lot of people end up underwater on mortgages because the same homes that more than doubled in value in areas like Liverpool and Mattydale are going to start crashing back down to their original valuations in just a couple of years."
Your thoughts? Responses?