Yup, that explain nicely why rent are softening… renters all knew it, negotiate low and hard… asking rents are now at 3 years ago rent… and could drop further. Was thinking about buying more rentals, now has to hold my horse. Is happening in Austin too but luckily mine are all renewed before Jun… next renewal would be bad
I’m about to show the quote below from the article:
While wage growth in the region remains strong, and unemployment hovers at a low level of 3.5 percent, the labor force has begun to shrink, indicating that one of the strongest labor markets in the country is no longer bringing people in.
Finally completed reading the article. The journalist added Apple to increase its readership. His main points have little to do with Apple Park. His main points are what I have said a few days ago somewhere in this forum… can’t remember which thread… can’t build any more new houses, expensive hi-tech labor cost, job hopping culture, etc… tech companies need a lower labor cost, lower housing cost and overall cheaper cost of conducting business.