Saturday, March 15, 2014

The State of the Rental Market in San Francisco

SF Weekly has posted the following picture and snippet:
Justin Flowers is the only member of CCR Headcleaner [band] still living in S.F. He rents a utility closet for $350 a month


There are two things going on that results in living quarters like this. Fed created money supply  is flowing into Silicon Valley and that money is moving northward into San Francisco, which is resulting in big buck Silicon Valley people bidding up rental prices. At the same time, SF's lunatic left continues to make it extremely difficult for any new construction to go on. Thus, there is little in the way of new supply of apartments in the city.

The situation reminds me of a comment made by the late New York City developer Samuel Lefrak, who said during the height of insane rent and building controls in NYC, "There is plenty of apartments available for the middle and lower classes. The problem is that the rich are living in them."

He meant that because of rent controls and restrictions on new apartment development, the rich could outbid the middle class for the housing stock that was available. The same thing is going on in SF, there are big money players who outbid the middle and lower classes for current housing because there is little in the way of new building going on. The money players have no options to buy new apartments with new high tech gear, because it is so difficult for developers to build in SF

4 comments:

  1. The idiot fuckturd left's combined IQ is probably 20. They're so stupid that they can't even comprehend something as simple as supply and demand. When demand increases for dwellings and you artificially limit its supply by preventing the expansion of available dwelling space what the hell do you think is going to happen you leftard fuckers? Hello?


    THINK please. Trust me it works. All it takes is just a little bit of effort.

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  2. When those rich Californians retire they look around at the shit hole they are in and proclaim: "Let's get the hell out of this place!" Then they move to Oregon, Washington, Montana, Colorado, etc and Californicate those places and drive up real estate prices in those states. After they sell their ghetto slum condo for $2,000,000 in Cal, they can afford to pay twice the going rate in other states and still have enough money to retire on for the rest of their lives.

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  3. "The idiot fuckturd left's combined IQ is probably 20. They're so stupid that they can't even comprehend something as simple as supply and demand. When demand increases for dwellings and you artificially limit its supply by preventing the expansion of available dwelling space what the hell do you think is going to happen you leftard fuckers? Hello?" lmao, i think i yelld something like that once, in frustration over ridiculously competitive rental environment for 1s & 2s in West LA -- free the markets, investment follows.

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    1. " lmao, i think i yelld something like that once, in frustration over ridiculously competitive rental environment for 1s & 2s in West LA -- free the markets, investment follows."

      Yup. Sometimes I think they just don't care whether it works or not and instead are just plain lazy and envious. If so then that's incredibly pathetic. The funny thing is that they're only cutting their own throats the stupid shits. I mean you can only be so stupid but they have exceeded the limits here somehow.

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