I wonder if this is a mix issue, since they are using median rent for an area. The better way would be to compare the same building yr/yr. Lower income people are more likely to have lost their job. They are more likely to break their lease which changes the mix of apartments available and biases it toward the lower end. That would make it appear as the median rent changed, but it’s actually a mix shift.
A new survey from the San Francisco Apartment Association shows more than 7% of renters simply broke their leases over the last three months.
- those who don’t renew leases.
No to apartments.
No to urbanized city such as 7x7.
Concord: @wuqijun is laughing to the bank.
The singles from startups that supposedly push up house prices in 7x7 are leaving in droves. IMHO, these singles have artificially buoy the RE market, now market can return to normal.
Rent price? Purchase price? I am not sure those singles in early stage startup are actually buying, but they did pushed up rent prices.
The article is two posts above. Rents. Rising rents induce investor-landlords like @manch to bid higher prices for house, leading to house price increases.
Big Tech Won’t Be the Same If Everyone Works From Home
Virtual tools can’t replicate the intellectual frisson of gathering smart people together. As a result, innovation and productivity may suffer.
Tyler Cowen’s latest Bloomberg article on remote work. He brought up many of the points I have been talking about, but I disagree with his conclusion. He’s right to think the pace of innovation will slow if tech workers are dispersed all around the globe instead of working next to each other in the Bay. But it’s exactly because of this I think tech companies would not go that far on remote work. Facebook does not lack money. If it senses it’s getting less from remote people it will reverse course. Teams compete with each other internally. Each team lead wants the best people on their own team. If people phoning in from Kansas are dragging the team down they will get pushed out.
Why fighting a culture war on masks is soooo stupid.
Calling @pandeyathotmail stupid?
Universal masking is one of the simplest interventions we can embrace as a way to reduce Covid spread and safely re-open our economy. Other measures with equal or better impact on reducing spread are far more intrusive to our lives. We should embrace easier solutions when we can.
Well said. May be politicians and big pharma don’t want the simple solution? Too easy?
Sf-based
New H1Bs, L1 stopped till Dec 2020 due to Coronavirus induced job market. Can affect Bay Area Rental market.
Luckily the ban will expire end of the year, together with Trump’s presidency.
One can make lot of money betting on the election, interest rates are low and margin use is cheap.
How?
What about those expiring now to Dec 2020?
Those people are royally screwed.