The median 1-bedroom apartment price in San Francisco last month was $2830, a 20.3% decrease from a year ago. The decline is the largest yearly decrease the national apartment rental firm Zumper has ever recorded in its history of tracking rental prices.
Anecdotally, I am seeing prices declining by as much as 30% in this city by the bay.
The lockdowns have turned the San Francisco apartment landscape completely on its head.
"Some renters may be inclined to move to the suburbs to get more space, as the Covid-19 pandemic spurred companies to close offices and allow employees to work from home. Facebook and Google, for example, have told employees they can work remotely at least through next summer," Zumper CEO Anthemos Georgiades said.
In addition, the threat of higher taxes, growing squalor throughout the city, boarded-up buildings and riots is resulting in the Grand Exodus.
This is what "the truth will out" really means, nature abhors socialist-leaning government management. It is anti-life and such centrally planned cities began to wreak an ugly life experience. And the exodus begins.
-RW
I've been contemplating writing a Tweet thread response to Lanny Davis' absurd 15 Tweet screed entitled "DEAR RED STATES; WE'RE LEAVING." His lack of awareness of the exodus from liberal states is tremendous. EPJ dutifully points out this exodus from San Fran, as seen in affects on rents, migration to Texas, etc.
ReplyDeleteSee a recent example Boeing moving their 787 Dreamliner production from Washington to South Carolina, while the WA governor Jay Inslee proclaims in a dictator-like fashion: "Let me be clear - when the market for airplanes comes back, Boeing must bring these jobs back to Washington state."
They will soon be proclaiming... How can I lead if you won't follow? Beating everyone over their head time and again will cause the true will out, at length, for sure.
The big chuckle in this is all these kids leaving San Francisco probably retain their leftist values. Their hearts are socialist but their feet are voting.
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