Rent Shakeup?

Bay Area
1

Looks like SF trend is down. South bay is flat to slightly up! Sorry @sfdragonboy FAB 7x7 move over. South bay here we go :slight_smile:

2

OMG, the horror!!!

We shall survive this…in the Fab 7x7!!!

3

This matches the article I posted about where the job growth is. It’s the second-tier cities.

4

No worries. Foreign buyers always come to the rescue. Foreigners only want to buy in the best places. So, they shun second tier metros.

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5

@wuqijun, when you setting up tour 2? @manch and I would like to partake :smiley:

6

Yes, so is @RealEstatebull. Let me add you guys to that PM.

7

Year over year and quarter over quarter monthly rent in SV is also declining.
Yes, amidst a desperate bid to buy houses, renters prefer to overpay for houses rather than rent, and techies sold RSUs to buy houses to rent. Everybody concluded that buying houses is the way to go.

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8

Make them paid for your dim sum.

Your time is free? Your petrol is free? Your car doesn’t depreciate? You’re not tired driving everybody around for a few hours while talking till thirsty?

9

:slight_smile: I don’t take advantage of people like that. I always prefer equal splitting.

10

Um… you cannot put a price tag on things like that. @manch was generous enough to set up a forum for us to discuss. Who is paying for his time and expenditure?

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11

Yes, thanks Grand Poobah again!!! If you gave us your address, we could come by during Chinese New Year and light up some firecrackers to ward away any evil spirits lingering around…

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12

This makes me wonder about job/population growth. If there was enough job growth, then rents would still be increasing. There’s no enough new rental supply to depress rents. At a national level, there’s good job growth and a record number of job openings. Are companies shifting away from the bay area or are other industries hiring more than tech?

13

:rofl:

14

Anecdotally, few neighbors rented out their houses and rent in cheaper neighborhoods (San Jose not Concord :rofl:). Few years ago, few neighbors sold their houses and migrated to cheaper states. My tenant decided to buy a house instead of paying rent to me, and I have to lower rent to get it rented out :rage:

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15

Looks like rents are flat in Tahoe… Still no inventory… but this is slow season… Rents should pick up in winter ski season

1 Like