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Ancient Gaseous Emanation
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Bloomberg News
13 October 2020


San Francisco’s sky-high apartment rents are falling fast.

The median monthly rate for a studio in the city tumbled 31% in September from a year earlier to $2,285, compared with a 0.5% decline nationally, according to data released Tuesday by Realtor.com. One-bedroom rents in San Francisco fell 24% and two-bedrooms were down 21%, to $2,873 and $3,931 a month, respectively.

The figures underscore how the pandemic has roiled property markets and changed renter preferences. With companies allowing employees to work from home, people have fled cramped and costly urban areas in droves, seeking extra room in the suburbs or cheaper cities. Tech firms, in particular, have told staff they should expect to work remotely well into next year -- and may be able to do so permanently.

“Renters are likely heading to more-affordable areas where they can get more space at a cheaper price,” Danielle Hale, Realtor.com’s chief economist, said in a statement. “The future of rents in many of these cities will depend on whether companies require employees to work from the office or continue to allow remote work.”

Bargains can be had in other high-cost areas, too. Studio rents dropped 15% to $2,495 a month in Manhattan. In King County, Washington, which includes Seattle, they fell 12% to $1,490.




 

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Pistoleer
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"The figures underscore how the pandemic has roiled property markets and changed renter preferences. With companies allowing employees to work from home, people have fled cramped and costly urban areas in droves, seeking extra room in the suburbs or cheaper cities."

Perhaps people are leaving San Francisco because it is rapidly becoming one of the socialist hell holes in CA? No that can't be as city leaders there say it's a great place to live. If anyone was leaving it would have to be because of the pandemic.
 

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Grand Imperial Poobah
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I suspect it won't be too long before SF's housing prices will collapse, causing a loss of property tax revenue for the liberal utopia.
 

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A saying...
The coldest winter I ever spent. Was a summer in San Francisco.
 

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$2,285 for a studio apartment? That's 4 times my mortgage(less taxes) for a two family home.
 

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You can in Texas too. My youngest son just bought the place next to me, $700/mo for 2,000 sq ft home on an acre. That would be a lot higher there.

Sent from my SM-G892A using Tapatalk
 

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I pay under $1,100 for a 3,600 sqft, 2-1/2 story (that’s 3,600 above ground) on a 10 acre fenced in horse ranch.
 

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For $3K a month. You could retire as a king in someplace like Panama.

I keep seeing reports. One saying Seattle is headed to complete destruction financially. NYC looks abandoned. Cuomo and Deblasio causing chaos with latest lockdown. NYC prices falling fast. Portland getting much worse.
They're all headed down the toilet.
And they're stupid enough to try to tell us it's Trump's fault. Talk about a joke.
 

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And don't forget that Kalifornia "special gasoline" is usually anywhere from 35 to 60 cents more per gallon than say Texas. I was always made aware of this when I'd fill up my rental car in San Antonio before returning it to fly back to Long Beach or John Wayne airports in Kalifornia.
 

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And don't forget that Kalifornia "special gasoline" is usually anywhere from 35 to 60 cents more per gallon than say Texas. I was always made aware of this when I'd fill up my rental car in San Antonio before returning it to fly back to Long Beach or John Wayne airports in Kalifornia.
yes, we have that in IL too, $.50 more than neighboring states
 

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For $3K a month. You could retire as a king in someplace like Panama.

I keep seeing reports. One saying Seattle is headed to complete destruction financially. NYC looks abandoned. Cuomo and Deblasio causing chaos with latest lockdown. NYC prices falling fast. Portland getting much worse.
They're all headed down the toilet.
And they're stupid enough to try to tell us it's Trump's fault. Talk about a joke.
What worry my most about this exodus from liberal states is that many of these liberals go to freer states and start voting for the same idiots that created the mess in the states they are living from. It is like a cancer.
Florida may be going blue before long, Texas in in the crosshear, North Carolina, South Carolina, Virginia, etc..
 

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You can't stop "change". And the American people/uninformed-voters today are often their own worst enemy. Seattle, Portland. San Francisco, L.A., Chicago, NYC, etc. These DEMOCRATS are gluttons for punishment, they will not admit they are wrong and stoopid, and their political selections prove it!
 
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