The biggest drop in history! Rent in San Francisco fell 20percent year on year in September

category:Finance
 The biggest drop in history! Rent in San Francisco fell 20percent year on year in September


Zumper said in his report that:

These trends show how much has changed in the markets of the most expensive cities in the United States.

On a month on month basis, the median rent for a one bedroom house in San Francisco fell 7% from August.

Behind this change is mainly due to the impact of the epidemic, the most expensive rent areas in the United States are most vulnerable to rent shocks.

Zumperceoanthemos Georgiades said that due to the new outbreak, many companies have closed their offices and allowed employees to work from home, so some tenants are more inclined to move to the suburbs in exchange for more living space.

Companies like Facebook and Google allow employees to work at least from home until next summer, Georgiades said. In addition, he believes that Californias forest fires and poor air conditions are also important reasons for the change in tenants choice of their own place of residence. For San Francisco, can the impact of the epidemic be reversed? Georgiades thinks there is a certain hope, but the difficulty is not small. Although our data shows such a situation, there are still many signals that it will recover, he said. However, it seems to me that recovery will take years, not months. Source: Wall Street news editor in charge: Zhong Qiming_ NF5619

Companies like Facebook and Google allow employees to work at least from home until next summer, Georgiades said.

In addition, he believes that Californias forest fires and poor air conditions are also important reasons for the change in tenants choice of their own place of residence.