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Actually, while many units were built, they were almost all in tall buildings in Soma. Many of those are occupied by renters, and approximately everyone wanted
by boulos 6y ago
Actually, while many units were built, they were almost all in tall buildings in Soma. Many of those are occupied by renters, and approximately everyone wanted out (100 unit building with a pair of elevators isn’t a covid friendly plan).
Like jeffbee says below: if you take just a little supply or demand out of the system, it can massively swing. As an example, in addition to the flight of many renters, single-family homes are up year over year.
- baby 6y agoThese were still insanely expensive.
- opportune 6y agoYeah, the other issue with Soma is that most of the appeal is that it’s in/next to the areas with all the big tech offices, which has been made obsolete. That (in addition to being new construction) commanded a large premium that’s erased. And the homeless situation in parts of Soma has got worse to boot.