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San Francisco's Rent Hits a New Peak of $3,690, Highest in the US (cnet.com)
An anonymous reader shares a report: The median rent for a one bedroom apartment in San Francisco has reached a new peak of $3,690, according to survey data from Zumper, a home and apartment rental app. That's also a rise of nearly 9 percent from the same time last year, the survey found. Not only are those figures high enough to make your bank account cringe, but they're also nearly 30 percent higher than New York City and more than double the prices in Miami. Seattle, home to Amazon and Microsoft, rang in at $1,970 and Washington, DC, hit $2,150.
Oh, and by the way, while San Francisco's prices rose, the median price of one bedroom apartments across the US dropped nearly half a percent during this same time. That means while San Francisco's prices climbed, the country's prices fell. "Though there may be a ton of cash flowing through the city and surrounding areas soon, many of these workers will not immediately invest in a home and may, instead, take their money to both travel and upgrade their rental situation," Zumper wrote in a blog post Thursday.
Oh, and by the way, while San Francisco's prices rose, the median price of one bedroom apartments across the US dropped nearly half a percent during this same time. That means while San Francisco's prices climbed, the country's prices fell. "Though there may be a ton of cash flowing through the city and surrounding areas soon, many of these workers will not immediately invest in a home and may, instead, take their money to both travel and upgrade their rental situation," Zumper wrote in a blog post Thursday.
Nobody is being forced to live in 'that', good for the landlords. This is how it's _supposed_ to work.
Sucks to be a grey haired trust funder who's trust no longer covers rent, but fuck them. They can live in Benicia or Gilroy, or get their first job.
John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
If you cut supply, price will go up.
And guess what?
All the virtue signalling in the universe won't change that.
If you want housing costs to go down, build more fucking homes. Stop putting roadblocks on development.
California.
What a paradise.
Next thing you know, California will have long-dormant mass diseases coming back to go with the highest poverty and lowest graduation rates in the US.
Ooops. Too late.
In an area where probably 1/3 of the residents are illegal aliens, how is this not discussed as being a factor?
In addition, there is out-of-control chain migration. Chain migration is a policy that needs to end. It's completely unsustainable.
Large parts of the United States no longer feel like America. No one voted for this. This has gone well beyond some open-minded desire for multiculturalism to levels of extreme masochism.