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San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

bloomberg.com

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Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#11

Post by jeffbee »

seibelj wrote: post #3

The free market wins again - supply and demand uber alles. If we can't build tons of new apartments, then 1/3 the city fleeing for the suburbs does the trick too!

Rent is like a traffic jam. The market collapses on the margin. You don't need to remove 30% of the cars to reduce freeway congestion by 30%, and you don't need to remove 30% of the residents to lower asking rents by 30%, either.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#13

Post by jdhn »

dtwest wrote: post #9
jdhn wrote: post #4

Wayne, MI studio rents are down by 23%? First of all, I wonder if they mean Wayne County, MI, or actual Wayne, MI. If it's the former, that almost makes more sense because Wayne, MI has a total of 17,000 people. The only thing I can think of is that demand has cratered because car company employees took the time to relocate once their leases were up.

The list is by county.

You're right, I just didn't read the title. In that case I feel bad for Detroit, as people must be ending their leases there and simply not reneweing.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#14

Post by Medicalidiot »

My buddy moved into a closet there ~4 years ago now. His rent was something like $2,500 per month. I am living in an apartment now that has twice the space and better ammenities while only pay $1,000 per month. My friend has since moved to Denver because mainly of price.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#16

Post by simonw »

jeffbee wrote: post #11
seibelj wrote: post #3

The free market wins again - supply and demand uber alles. If we can't build tons of new apartments, then 1/3 the city fleeing for the suburbs does the trick too!

Rent is like a traffic jam. The market collapses on the margin. You don't need to remove 30% of the cars to reduce freeway congestion by 30%, and you don't need to remove 30% of the residents to lower asking rents by 30%, either.

I hadn't heard "You don't need to remove 30% of the cars to reduce freeway congestion by 30%" before, any chance you could elaborate?

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#20

Post by hansdieter1337 »

lazzlazzlazz wrote: post #12
racl101 wrote: post #6

'Crater'? Why not pick a more direct verb?

> "...Crater Up To..." hard to imagine a more awkward choice of words

Had to look up that word as a non-native speaker. Didn’t find anything but this article. Anyone ever heard of this term?
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