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A) The linked WSJ article claims "The median rent for a one-bedroom apartment in San Francisco in the month of July dropped by 11% compared with the same month

by Cactus2018 6y ago

A) The linked WSJ article claims "The median rent for a one-bedroom apartment in San Francisco in the month of July dropped by 11% compared with the same month a year prior, according to rental-listings platform Zumper, which analyzed nearly 11,000 listings in the city and several surrounding areas." http://archive.is/CZeTm http://archive.is/CZeTm However, B) A different article, dated 8/3/2020, claims: "In San Francisco, Zillow says rent prices declined 3.2 percent compared to the same time last year." https://sanfrancisco.cbslocal.com/2020/08/03/in-bay-areas-covid-19-rental-market-renters-suddenly-have-more-negotiating-power/ https://sanfrancisco.cbslocal.com/2020/08/03/in-bay-areas-co... PadMapper shows the range for a 1 bedroom rental as ~$2k-$4k, and 2 bedrooms as ~$3k-$5k. A 3.2% drop on a $4k rental takes the price down to $3.9k. Not a big 'fall' in the scheme of finding affordable housing. https://www.padmapper.com/apartments/san-francisco-ca/2-beds?property-categories=apartment,condo,house&max-days=6&exclude-airbnb https://www.padmapper.com/apartments/san-francisco-ca/2-beds...

tempsy 6y ago
Rents have definitely gone down much more than "just a barely noticeable" amount. Yes, this is anecdotal, but I check studios and 1-bedrooms almost religiously on Craigslist and places in neighborhoods I check are at least 10% cheaper from what I've found compared to last year and there are far more concessions (e.g. free month of rent) than I've ever seen. I also negotiated my own rent down in my studio after my lease was up. Only 5% but kept my month-to-month.
marcinzm 6y ago
Landlords prefer to give concessions (1-2 months free of rent) rather than lowering the base price. This effectively allows them to increase rent in 12 months by 10+% without issues of rent control legislation.

tempsy 6y ago

Rents have definitely gone down much more than "just a barely noticeable" amount. Yes, this is anecdotal, but I check studios and 1-bedrooms almost religiously on Craigslist and places in neighborhoods I check are at least 10% cheaper from what I've found compared to last year and there are far more concessions (e.g. free month of rent) than I've ever seen. I also negotiated my own rent down in my studio after my lease was up. Only 5% but kept my month-to-month.

marcinzm 6y ago

Landlords prefer to give concessions (1-2 months free of rent) rather than lowering the base price. This effectively allows them to increase rent in 12 months by 10+% without issues of rent control legislation.