21–30 of 562 posts
I have somewhat inside info about a drop in rent for commercial real estate in a high end shopping street in NL ( The Netherlands ). This is unheard of, real estate owners rather keep a shop vacant than drop the rent. I think we have seen nothing yet in commercial real estate, obviously not limited to SF or NL.
NL as in the Netherlands?
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Do they ignore it, or are they using it for their own gain? For people who actually own property in San Fransisco, consider how enriched they have become by the obscenely rising rent/real estate prices. This comes along with them getting to keep their neighborhoods static instead of having to have a gigantic shadow erected across the street. Sure there are downsides, but you can always just sell and get our with a pr…
Both. I spent the last decade having these conversations with people who also grew up here and can’t afford to remain here without staying with their parents, with some of the stranger conversations devolving into my counter parties brainstorming ways to kick tech people out of the City and stop new people from moving in altogether, as if freedom of movement in the United States wasn’t really a thing. It’s not “suppl…
The sudden COVID-related rent price drop indicates that this theory is nonsense, and that the high rents are solely a function of supply and demand, but I'm sure that won't stop anyone from believing in it.
> the weighted average asking rent for an apartment in the city, which currently measures around 2.3 bedrooms when counting a studio as having one, has dropped to $3,100 a month. Still too high. Was checking into apartment prices earlier in the year and it is amazing the number of landlords that will try and sell you on a “kitchen” that is a mini-fridge, tiny sink, microwave and a hot plate whilst still charging you…
Stop it. Do you live in San Francisco? I don’t mean the Bay Area. Do you actually live in San Francisco? Why did Vancouver, Seattle, and Portland see very similar percentage based increases at the same time? Why has the entire Bay Area? Foreign investment. As soon as Vancouver passed legislation to curb foreign investment their real estate moved back to normal. 1 in 4 housing purchases in California are all cash. Tha…
Foreign investment is demand. A rise in demand is much more impactful if supply is static.
> the weighted average asking rent for an apartment in the city, which currently measures around 2.3 bedrooms when counting a studio as having one, has dropped to $3,100 a month. Still too high. Was checking into apartment prices earlier in the year and it is amazing the number of landlords that will try and sell you on a “kitchen” that is a mini-fridge, tiny sink, microwave and a hot plate whilst still charging you…
Perhaps there’s a similar process at play here. If land is incredibly expensive and one intends to eat most of their meals out, it doesn’t actually make sense to rent a full kitchen. Might as well either cut rent and get a half kitchen, or save that space for activities you’ll actually do.
renting in SF...talk about a cash incinerator
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Stop it. Do you live in San Francisco? I don’t mean the Bay Area. Do you actually live in San Francisco? Why did Vancouver, Seattle, and Portland see very similar percentage based increases at the same time? Why has the entire Bay Area? Foreign investment. As soon as Vancouver passed legislation to curb foreign investment their real estate moved back to normal. 1 in 4 housing purchases in California are all cash. Tha…
What? Vancouver’s prices are still rising. Foreign investment is demand. A rise in demand is much more impactful if supply is static.
Good thing I signed right before the rent drop and can't break my lease
> the weighted average asking rent for an apartment in the city, which currently measures around 2.3 bedrooms when counting a studio as having one, has dropped to $3,100 a month. Still too high. Was checking into apartment prices earlier in the year and it is amazing the number of landlords that will try and sell you on a “kitchen” that is a mini-fridge, tiny sink, microwave and a hot plate whilst still charging you…
Stop it. Do you live in San Francisco? I don’t mean the Bay Area. Do you actually live in San Francisco? Why did Vancouver, Seattle, and Portland see very similar percentage based increases at the same time? Why has the entire Bay Area? Foreign investment. As soon as Vancouver passed legislation to curb foreign investment their real estate moved back to normal. 1 in 4 housing purchases in California are all cash. Tha…
Do you have a source on this? From what I've seen, Vancouver real estate (and Toronto) is still ludicrous (given Canadian wages).
I'd also like to see a vacancy tax or perhaps an even more directed law prohibiting foreign ownership of a certain level. Then again, I'd also like to see Prop 13 not apply to commercial property, not be passed on in inheritance, and not apply to non-primary residences, but these ideas all seem to be nonsensical in CA legislators and citizens' minds.
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Both. I spent the last decade having these conversations with people who also grew up here and can’t afford to remain here without staying with their parents, with some of the stranger conversations devolving into my counter parties brainstorming ways to kick tech people out of the City and stop new people from moving in altogether, as if freedom of movement in the United States wasn’t really a thing. It’s not “suppl…
Exactly -- there's a pervasive belief in the bay area that high rents are solely due to the evil cabal of landlords who meet every week in a dimly lit room and agree to charge sky-high rents while cackling maniacally and twirling their perfectly-waxed moustaches. The sudden COVID-related rent price drop indicates that this theory is nonsense, and that the high rents are solely a function of supply and demand, but I'm…