As if the perpetration of a giant sub-prime Ponzi scheme by the banks had not done enough damage to property values we are now seeing a rising tide of property devaluations due to a lack of broadband. Driving this trend are the following factors:
- A growing expectation of broadband access in all sectors of commerce and government. It is now normal to expect someone with whom you do business to be able to watch a video online, attend a webinar, log into the company network remotely, and download large files, all activities that are impossible without broadband.
- A growing realization that satellite Internet service, the connection of last resort in rural areas, is not really broadband at all. For example, it does not reliably support any of those 4 essential business activities in trend 1.
- A growing education gap is emerging in which children and adults without broadband access are being left behind, in K-12 and further education, not to mention distance learning.