3 ms·
Presumably part of the reason for the ghost town effect wasn't just the demand shifted but because the landlords (or banks) wouldn't blink. There presumably al
by nullc 12y ago
Presumably part of the reason for the ghost town effect wasn't just the demand shifted but because the landlords (or banks) wouldn't blink. There presumably always a price which would have mitigated the churn, but the market failed to find it fast enough to avoid the undershoot.
- pjdemers1 12y agoDuring the 2001-2003 bust, rents fell quite a bit along 101 and the south bay. For an average apartment, from ~4,000 to ~2,500. High end apartments fell from ~8,000 to ~3,500