The rental market is losing it legs in SF for sure, though landlords are going to try and prop up their values however they can. Like a sibling comment said, gi

The rental market is losing it legs in SF for sure, though landlords are going to try and prop up their values however they can. Like a sibling comment said, giving free months rather than actually adjusting the rate. The funny thing is, they price these free months into the rental rate so it looks cheaper than it is. Here's some anecdata from my little corner of SF. I know THREE separate homes trying to fill rooms, and it's going awfully. The rent is too high, and there aren't enough people looking for rooms. My old luxury apartment building has cut rents by around $500 for a two bedroom, about 10% (though I think they're doing it by way of free months). The luxury building down the street, Duboce, is also offering 2 bedrooms at about $500 off peak. They're also listing their rooms on craigslist. I rent a flat with two others in San Francisco. They're both leaving the city, and rather than find another apartment, I'm going to leave temporarily too. Funny, the landlord could have just given us a reduction and sign a new lease. Unfortunately, he'll now have to contest for a dwindling pool of applicants or let the place sit empty.