San Francisco apartment rent prices are dropping fast

Re:San Francisco apartment rent prices are dropping fast by MR4D on Wednesday July 01, 2020 @05:26PM (#23706908)

Real estate is priced on the margin. So if 1% of the people don't come back, prices will probably fall more than that 1%.

If 10% of the people don't come back, then prices may fall 40%.

It's a tough game things like this happen. My feeling is that we haven't even begun to see the beginning of this.

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Re:San Francisco apartment rent prices are dropping fast by jshaqaw on Wednesday July 01, 2020 @09:49PM (#23709131)

And if prices in NYC fall 40% then there will be a stampede of people moving back pushing things back up until an equilibrium is reached.

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Re:San Francisco apartment rent prices are dropping fast by mywittyname on Thursday July 02, 2020 @10:32AM (#23713511)

Only if the wealthy tenants come back. The biggest driver of real estate prices in general has to be the top 5-10% of income

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Re:San Francisco apartment rent prices are dropping fast by jshaqaw on Thursday July 02, 2020 @03:17PM (#23716910)

I live in NYC. The number one reason people I know leave is affordability vs the suburbs or next tier cities. I know a handful of people who aren't/weren't cut out for life in the Big Apple. The vast majority would stay if they thought they could. If you think we are in a world of permanent pandemic then yeah things could really change. If you think 12 months out things mainly normalize then lower prices will definitely draw people back in and re-establish equilibrium.

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