Posted on 12/08/2020 2:25:46 PM PST by Vendome
Since the start of the coronavirus pandemic, San Francisco rents have plummeted more than any other major city in the country.
The average rent in one San Francisco neighborhood is now to $1,600.
Some housing experts even argue the city has turned in to a renter’s market.
The mass exodus in San Francisco during the pandemic resulted in more housing supply and less demand but, even after big price drops, San Francisco still retains the title as the most expensive rental market in the country.
At $2,700 a month for a one-bedroom apartment, the city tops New York and Los Angeles. Neighboring cities San Jose and Oakland round out the top five.
These rent prices have fallen to levels that haven’t been seen since the last recession — drops of more than 20 percent compared to last year in many neighborhoods.
Another city discovering it’s no longer “cool”
It has literally turned into a sh*thole!!
It has literally turned into a sh*thole!!
Yes, blame it all on the “pandemic.”
The place was turning into a sewer long before the china virus. Sorry, no sympathy.
Scratching my..........a## I wonder why?
Used to be a favorite destination for food. Haven’t been in years.
Wait’ll 2021. This is just the beginning. Worldwide.
“At $2,700 a month for a one-bedroom apartment, the city tops New York and Los Angeles. Neighboring cities San Jose and Oakland round out the top five.
These rent prices have fallen to levels that haven’t been seen since the last recession — drops of more than 20 percent compared to last year in many neighborhoods”
—
Wow - a 1 bedroom in the armpit of the world is down to only $2160 a month!
Oh, It’ll be 1995 pricing by the end of next year...
BUSTED!
Maybe 1950s...
The Left is accomplishing their goals.
They are destroying the middle class.
The owners of these properties have a mortgage to pay off.
There will be a bunch of abandoned properties and we’ll get
stiffed with the melt-down that occurs like we did in 2008.
And still twice more than somebody with a $60k / year job can afford and have anything else in life but basics.
I’ve been told we are in this 10 years.
bankruptcy courts will never catch up...
Ouch!
Some terrible number of small businesses have gone under in
the NY NJ area. I want to say it was 37%, but I know for
sure it was in the 30%+ range.
Imagine what the next six months will bring.
Small businesses are the largest employer.
Middle-class no more...
Even without covid, anyone but a Bay area proggy could see this coming from over two years ago.
Visited in 2006. Total crap hole. So many boarded up businesses in the Mission district.
Except for a couple places the restaurants were over priced and the food mediocre.
If housing costs go low again can the Beat poets and long haired hippie women in see through tops and hiphuggers get cheap crash pads? Wear a flower in your hair (if you still have hair, guys).
I saw the best FReeper minds of my generation searching for any angry post, grasping for a memory of a free America....
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