291–300 of 342 posts
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Also incumbent landlords who are sitting on paid off properties. A landlord with an old building has less vacancies if he doesn't have to compete with new construction.
That doesn’t make sense to me. If a landlord wanted the advantages of low vacancies due to low rent, why not just lower the rent?
Between Covid and the current protests/riots, I think we're going to see a major reversal of the urban renaissance that took place from roughly 1990 to the present. A formerly tacky suburban bungalow with a fenced in backyard starts looking pretty good in a quarantine compared to a one-bedroom apartment where the only way outside is via a germ-filled elevator. Watching downtowns like Chicago's burn is going to make a…
> the imagery and emotion will remain People have short memories. > Just like 3-mile Island effectively put an end to nuclear energy in the U.S. even though it was an isolated incident Construction cost killed nuclear.
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I wonder why people renting their cars on Turo(or buying cars to do so) aren't causing car shortages? Oh yeah, because there aren't the artificial constraints on supply there is on housing. Let's focus on the problem and not wish ill on those trying to provide a useful service to others.
It’s a service which even if being operated in compliance with local laws has a negative cost to the rest of the neighborhood through higher issues with noise, trash, parking, etc. There are reasons why hotels aren’t spread randomly around cities.
The issues of noise, trash, parking etc should be made to be internalized by those that bring the nuisance. There are noise laws, littering laws, and parking ordinances. Maybe adjustments are appropriate in some cases.
At the end of the day, anti-AirBnB laws are about control over your neighbor. The same things were said about home offices for years (and still are in some localities). The problem is, you can always point to antecdata to support your point, but we should be looking at individual violators of reasonable laws that uphold health and safety in a neighborhood - not using a blunt instrument to snuff out all new uses of property that come about because you don't like it.
> The 9.2% drop in the average one-bedroom San Francisco rent of $3,360 still leaves it unaffordable for the vast majority of city residents. Yeah, that's not much of a drop.
For a 1-bed that's actually $500-700 cheaper than it is in my area (Kendall Sq. in Cambridge).
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I wonder why people renting their cars on Turo(or buying cars to do so) aren't causing car shortages? Oh yeah, because there aren't the artificial constraints on supply there is on housing. Let's focus on the problem and not wish ill on those trying to provide a useful service to others.
> artificial constraints on supply there is on housing I mean this sounds good and all, but in practice property owners are at the forefront of restrictive zoning regulations too.
Although I might benefit from this, but I have to point out that this is supposed to be the intern season, and there were always a surge in rent during this season in the past. That is not happening this year. So comparing to last year, you are seeing a larger drop, but it will left to be seen whether the scale of this drop is temporary or long-term. That said, the Bay Area landlords have benefited from the bloom for…
Isnt it somthing that the last thirty years is exactly when millions of US adults had turned thirty+. The cost structure of a young adult in the last thirty years has been nothing like the previous thirty. Building new housing (and rental units) has been substantially restricted across generations in California, but it got particularly noxious with the six-figure twenty somethings taking the rentals, while the other ninety-eight percent of the population just ate the cost increases at every turn. These are economic facts and are documented extensively at the Terner Center at UC Berkeley among other places.
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You overestimate our cultural attention span :) Anyway, even with COVID + Rioting, I'd much rather live in a big city than in the countryside.
Long term, sure. But there's little point in paying $$$ for a tiny place when everything is closed due to Covid. Why not decamp for the suburbs/parent's house for a year and save 20-30k?
The cost of renewing your lease and staying in the bay area vs simply moving out for the year to your parents' house / LCOL area where if it really comes down to it, you can simply break your lease much easier is an easy trade-off.
I think the reality will set in soon on this once the CARES bonus UI is removed (and if it is not replaced) and the PPP loans run out. Right now everyone I know in real estate is still convinced it was just a minor blip and love to cite cherry picked stats about how a recovery is already under way. Coincidently I have been seeing a lot of fully furnished units coming on the market which I assume were former Airbnbs.
Two things: 1. The consequences of having millions of unemployed people with bills to pay and no income are too much for a nation, let alone politicians in an election year. My bet is that the payments will be extended or replaced with something as the alternative is not viable. 2. WFH has already started normalizing, and will shortly become a differentiating perk offered by companies. I don't suspect that may of the…
If you're willing to halt people's food benefits during a historic recession, almost anything seem possible.
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Curious, from what neighborhood to what neighborhood?
Tenderloin, I mainly looked in the Russian Hill / Marina / Lower Pac heights areas for private 1 bedroom situations in 2/3 additional roomates. I ended up going for a place in the Presidio. For the most part the opportunities I was seeing were for subleases where a tenant moved out hurriedly, which seems to be VERY common right now. FWIW all private room + 2/3 roomate situations were in the range of $1200 - $1500 vs.…
I'm talking apartments that were above 4k/month which are now around 2-3k/month.
I think this is a good time for me to change flat.