S.F. population fell 6.3%, most in nation, to lowest level since 2010
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Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#2[dead]
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#3In the first year of COVID. I can't comment about how SF is faring these days, but LA also cleared out that first year.
But this year, people came roaring back. The average rent increase in my neighborhood was over 20%. The competition for rental units in some buildings is intense enough that potential tenants either sign a rental agreement on the spot or lose the unit to someone else willing to sign, and at least one of the apartment buildings on my block has a waitlist.
(Also interesting to note that the city of LA was not one of the top cities in terms of population loss per the Census, but several suburban cities in LA County, like Torrance, were on the list.)
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#4No post body was provided.
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#5I think remote work is often understated in reasons people move away. When you go into the office every day, it's pretty obvious that you have to live in whatever city you live in. But with remote work, the question becomes "if I don't have to live here, do I want to keep living here". For many (including myself), the answer was a definitive NO.
Sure many headlines and news segments make it seem that it's the crime, the high rent, and all these super visible indicators and while I'm sure that factored into the decisions of some, for many it was that they just wanted a change and got the golden opportunity to do so.
EDIT: It's not even that one may even "want a change", it's when you're presented with the opportunity to make a change, the gears in your head start turning as to what options you have at your disposal. I would imagine many people that moved had previously no intention to but just got the opportunity and decided to take it while it lasted.
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#6In the first year of COVID. I can't comment about how SF is faring these days, but LA also cleared out that first year. But this year, people came roaring back. The average rent increase in my neighborhood was over 20%. The competition for rental units in some buildings is intense enough that potential tenants either sign a rental agreement on the spot or lose the unit to someone else willing to sign, and at least on…
I haven't seen any data to support "roaring back". 6-ish months ago they were still saying SF rents were down 20% from March 2020. Any idea how many rentals aren't rentals anymore because of the moratorium impact? I know up here in Portland there was a huge net reduction of rentals and prices spiked pretty hard.
For example: https://www.rentcafe.com/average-rent-market-trends/us/ca/sa... https://therealdeal.com/sanfrancisco/2022/05/02/san-francisc...
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#7No post body was provided.
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#8Quoted post unavailable.
I'd say it's the opposite. The city has a few bad spots, but overall it's quite nice. The big problem is the lack of housing, which is arguably driven by the way that Prop 13 warps economic incentives.
Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#9In the first year of COVID. I can't comment about how SF is faring these days, but LA also cleared out that first year. But this year, people came roaring back. The average rent increase in my neighborhood was over 20%. The competition for rental units in some buildings is intense enough that potential tenants either sign a rental agreement on the spot or lose the unit to someone else willing to sign, and at least on…
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Re: S.F. population fell 6.3%, most in nation, to lowest level since 2010
#10I think in the two scenarios you can focus on either the positives or the negatives.
When population goes up: positive - the area is vibrant economically; negative - rent is spiraling upwards out of control
When population goes down: positive - rent is finally affordable; negative - the area is falling apart existentially
I think the media in general has found the negative spin sells better.