San Francisco, Silicon Valley rents plunge amid downturn

"Rents for a one-bedroom apartment dropped most in the cities richest in high-paying tech jobs, falling 9.4% in San Francisco compared with May of 2019. In Mountain View, home to Google, rents fell 15.9% year over year, while in Apple’s hometown of Cupertino rents dipped 14.3%, according to the rental search engine Zumper. In San Bruno, where YouTube has its offices, rents tumbled 14.9%."

Can't read due to paywall but I wonder how much of this is due to most Airbnbs presumably going empty.

rent_price != property_price

Its not the dip yet. Also these are rents, so you wouldn't be buying the property yet, wait till courts are even open for foreclosures and evictions as the moratoriums are still ongoing.

My luxury building and a few others I checked have slashed rent 10-15%, while also offering 6-8 weeks free, which is two months. That means the real asking rate in these properties another 15% lower. Thats a total of 27% lower.

You can try offering far less. I would ambitiously go for 60% lower than asking price and see what happens. Assume they're cash starved too.

given how much they climbed in the last few years, rent (buy) still way too expensive. But it is a start. We are moving away from SF anyway. Not worth it.