Uhmm

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Is that median rent for a one bed room?

Come on, no one in his or her right mind would be crying if they got anything remotely north of 3k for a 1 bedroom apartment (Fab 7x7 or not). This is fake news!!!

it may be wrong… who knows, just passing it on… I am just the messenger…

My AI computer algorithm crashed and burned when it detected a real estate article with the terms “San Francisco” and “down” in it. It didn’t compute. :wink:

Actually I think rent has been trending down in SF for a while now. There was quite a bit of new rental units coming on the market recently. Yes, it can and apparently did happen.

My point was just that sure it may be going down but that is still very lofty numbers in anybody’s book no? Come on, if I were getting 3K for a 1 bedroom everywhere I could retire…

Could be possible that the high end of the rental market decided to buy instead of paying rent.

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That is alawys the hazard of owing high end property

Not only in SF, in many neighborhoods of SV too. Mood of renters is to buy because they are totally convinced that prices will only go up, up, up. Yield has plunged from nearly 3% to slightly higher than 2%. But still seeing investors buying to rent so I think they are betting on continued price appreciation despite increasingly negative cashflows. That is, both renters and investors think that prices will only go up.

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You also have the migration data… Rents aren’t going to keep going up if there’s net migration out of the bay area.

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