3 ms·
My friends in property management tell me that people are indeed moving. My neighbor had a turnover just last month. Job losses plus no rent relief pretty much
by billjings 6y ago
My friends in property management tell me that people are indeed moving. My neighbor had a turnover just last month. Job losses plus no rent relief pretty much require that people will move.
- jedberg 6y agoPeople are moving out but not in. Move-ins set the rental rate. A lot of people are leaving for lower cost areas or to move in with family.
- dan-robertson 6y agoNot everyone is stuck at home with no income. If I were working in the Bay Area for a company that was still doing ok, and I were already planning to move around now, I would definitely see this as an opportunity to get a good deal on rent by moving. Maybe some other people are thinking this. Or maybe they are thinking that there is no point moving elsewhere in the Bay Area and are moving further out. Though I would certainly expect the number of transactions to decrease a lot.
- jedberg 6y agoUp until the new modified shelter in place orders, you couldn't move unless your lease expired or you already had the move planned. Also moving companies were allowed to stay open if they provided their movers with PPE, so many chose to shut down. So for the most part people just couldn't move, even if they wanted to.
- dan-robertson 6y agoBut if few people are moving anyway (for reasons above) then it doesn’t matter if there are fewer moving companies because of the above. Obviously some people are moving or the OP wouldn’t have been written