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Rent Dropping

CuriousMike said:
I mean, I think its a good thing... for the renters.

My assumption is ... while not a good thing for the landlords... at least the landlords are still making ludicrous cash. Just... less ludicrous cash.
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I am kinda positive that all the way back up to 2010, landlords in SF (speaking for SF) were making good to ludicrous cash already.

Even nowadays, some do continue, if they do AirBNB.. also some subletting their older apartment to AirBnb too.

So no worry on the cash
 
Yakoo752 said:
or until demand falls out the bottom and the overinflated market tanks, reminiscent the .com bust of 1990
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The amazing thing back then was that greedy landlords refused to drop their rent. MANY buildings stayed empty/unrented for years as they held out for "what they used to get". We rented an apartment to 2 different .com startups for ridiculous money, but immediately dropped rent to reasonable level and suffered no vacancy.

The same thing will happen again next time the economy cannot support the current rental pricing. It takes years to get back to reasonable in some cases.
 
SM610 said:
The amazing thing back then was that greedy landlords refused to drop their rent. MANY buildings stayed empty/unrented for years as they held out for "what they used to get". We rented an apartment to 2 different .com startups for ridiculous money, but immediately dropped rent to reasonable level and suffered no vacancy.

The same thing will happen again next time the economy cannot support the current rental pricing. It takes years to get back to reasonable in some cases.
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funny thing is commercial pricing started coming down 6+ months, this following is no surprise

what I am interested in is seeing what commercial apt rentals do. So much development going on in this space, it would suck to start eating margin before you've completed building. Are we going to have a dozen downtown sunyvales occuring peninsula wide?
 
uh rents are already falling across the region. Some landlords will try to hold out, but rents are definitely falling right now.
 
It's nice to see people have more flexibility especially when they want to move in with their significant other or have kids.
 
mercurial said:
uh rents are already falling across the region. Some landlords will try to hold out, but rents are definitely falling right now.
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Its so true, my buddy could only get $7000 mo for his 2 BDRM apartment last month...

:rolleyes

:laughing
 
AbsolutEnduser said:
What's this about? I don't get it it seems out of context, was there a quote?
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No I just found once rent started going up and up that people could not move out with their bf./gf or have kids without having to leave the city or state.
Imagine breaking up with someone but not being able to move out??
 
HappyHighwayman said:
No I just found once rent started going up and up that people could not move out with their bf./gf or have kids without having to leave the city or state.
Imagine breaking up with someone but not being able to move out??
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Ah OK now the reference makes more sense. 5℅ decrease of rents is probably not affecting this side situation very much.
Also at $3700 I definitely think most people are not paying this alone, for a single person.
 
Yakoo752 said:
funny thing is commercial pricing started coming down 6+ months, this following is no surprise

what I am interested in is seeing what commercial apt rentals do. So much development going on in this space, it would suck to start eating margin before you've completed building. Are we going to have a dozen downtown sunyvales occuring peninsula wide?
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What's happening in downtown sunnyvale?
 
Eh, I work in the Bay Area but I don't want to live there again. Drove through Rocklin today, I like that zone. Close to Tahoe and the good roads with nice pavement. I don't think I could handle the congestion of the Bay Area, even if rents have dropped a minuscule amount.

If only I could bring my Bay Area income with me wherever I want.
 
Yakoo752 said:
To;dr It's been tits up and embroiled in lawsuits since they failed to launch.

Longer. They tried to do a mini Satan row and most of it has failed
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They still have the exposed ironwork near Macy's, but the rest of the area has filled in. Went to Murphy street last week and it was packed.

Also not sure if it's me, but traffic has been getting progressively worse. Prices might well have plateaued for a while, but I don't see where demand would be slowing.
 
mlm said:
They still have the exposed ironwork near Macy's, but the rest of the area has filled in. Went to Murphy street last week and it was packed.

Also not sure if it's me, but traffic has been getting progressively worse. Prices might well have plateaued for a while, but I don't see where demand would be slowing.
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Murphy street has always been busy even during the construction however the condo's on mathilda still aren't occupied and the vacant lot is still vacant. Once the lawsuits started everything stopped.
 
CABilly said:
Eh, I work in the Bay Area but I don't want to live there again. Drove through Rocklin today, I like that zone. Close to Tahoe and the good roads with nice pavement. I don't think I could handle the congestion of the Bay Area, even if rents have dropped a minuscule amount.

If only I could bring my Bay Area income with me wherever I want.
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Go up the hill just a little bit more and the temp drops a few degrees in the summer.
 
We bought during the summer, so I single handedly crashed the market. You're welcome.

We comforted ourselves at the time, knowing this would happen, with the fact that even if rents dropped 10% we couldn't rent a half decent apartment for what our mortgage and property tax costs us.
 
We moved out to Martinez a couple years ago and like it a lot. We don't have a view of the refineries, so no problem there. Don't live by the airport or poop plant, so no problem there. We live close enough to the water to get a nice breeze through the Carquinez Straight. We also have a very good school district that is not tied to the shit show of Mt Diablo USD. Downtown might be a little slow, but it's a real downtown, not a cardboard cut out that was just erected and filled with chain stores. And the tweekers help you stay grounded, just enough for you not to feel like your better than everyone else. They give me perspective.
 
I should email this thread to my landlord. She just told me she's raising my rent $200/month.
 
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