Look at this for rent map in San Francisco

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Look at this for rent map in San Francisco

Diane G.
CA · Member since 2016 · 1k+ posts · 1k+ votes

In case you need more convincing that we are heading down hill, take a look at the rent map in SOMA in San Francisco.... Note some of the pupple dots represent multipe vacant unit (37 at Tehama, 25 at Rincon, 27 at Solaire.....)

This is starting to look like 2007 again...



https://www.zillow.com/homes/for_rent/37.79271,-122.385164,37.779415,-122.414217_rect/14_zm/

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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
7y

@Diane G. You’ve been posting stuff like this for years. A broken clock is right twice a day...

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  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y

    @Diane G. You’ve been posting stuff like this for years. A broken clock is right twice a day...

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  • Diane G.
    OP
    CA · Member since 2016 · 1k+ posts · 1k+ votes
    7y

    @Caleb Heimsoth

    Well I have been right all along.... when I first said marker is going down, every one disagreed, including yourself....

    Guess who was right? The market has been going down the last 12-18 months

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    this is a supply demand situation.. seems to be an over supply right at the moment.. rents will hit a equilibrium over time .

    Issue becomes these projects take so long start to finish.. that what you modeled when you went into the deal is not market conditions when your ready for occupancy.. this is happening in A class throughout the US .. in many markets east side of Portland for sure.. 

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  • Brian Ellis
    Rental Property Investor · South shore, MA · Member since 2017 · 1k+ posts · 1k+ votes
    7y

    Saying this is 2007 again is a bold statement based off of active rent listings alone. If anything, rents will decrease, maybe values drop a little. But that doesn't mean we are heading for a complete financial collapse. 

    Take a look at the same maps pre-foreclosures. Maybe that will change your mind a little. 

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  • Steve B.
    Engineer · Portland, OR · Member since 2014 · 1k+ posts · 1k+ votes
    7y

    @Caleb Heimsoth she’s not totally wrong either. Based on unreliable anecdotal evidence, we used to see the San Francisco investment crowd posting prolix, less than low-key killer investment brag stories almost daily. They were also the most outspoken acolytes of the “perpetual 10%+ appreciation” theory. For the last year these types of posts have magically disappeared. So either SF contracted a collective case of typers cramp, or something has changed in poo town.

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  • Diane G.
    OP
    CA · Member since 2016 · 1k+ posts · 1k+ votes
    7y

    @Jay Hinrichs

    But the buildings that have 15, 25 vacant units are NOT brand new buildings...They are 5-10 years old, and they used to have a waiting list... But today, tons of vacancy...

    That is the point I was trying to make

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Diane G.:

    @Jay Hinrichs

    But the buildings that have 15, 25 vacant units are NOT brand new buildings...They are 5-10 years old, and they used to have a waiting list... But today, tons of vacancy...

    That is the point I was trying to make

    Gotcha  so renters are going to the new buildings instead.. the market is eating itself..  we saw the same thing in Dallas in the 80s  new building pop up steal all the tenants from old building.. 

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