How California’s Cities Strangle the Permit Process by John McNellis • May 8, 2021 • 66 Comments The city’s building inspector confided, “I don’t know why anyone would ever pull a permit for an apartment remodel; the cities make it so difficult.”
Now Even Google Caves under Demand for Permanent Work from Home, Another Blow to Bay Area Office Market by Wolf Richter • May 5, 2021 • 133 Comments “The future of work is flexibility,” CEO Pichai told employees today.
It’s Not Over: Rents in San Francisco Down 30%, in Silicon Valley Down 19%, both at Multi-Year Lows. But Inland Rents Spike by Wolf Richter • Apr 29, 2021 • 54 Comments The US rental market has been thrown into turmoil. But in no major city have rents plunged from so high by so much so fast as in San Francisco.
How the “Affordability Crisis” Migrated from High-Income Rental Markets, as Manhattan & San Francisco, to Lower Income Markets, as Detroit & Fresno by Wolf Richter • Apr 9, 2021 • 253 Comments The distortions caused by the shift to working from anywhere are hitting households that can least afford it.
Office Slump Gets Ugly in Houston, San Francisco, Los Angeles, Manhattan, Chicago, Washington DC by Wolf Richter • Apr 5, 2021 • 120 Comments This isn’t a blip.
As “Rent Spreads” Shrink, Exodus Ends? Rents in San Francisco & Silicon Valley at Multiyear Lows, but Soar in Sacramento, Fresno, Lake Tahoe Area by Wolf Richter • Mar 26, 2021 • 150 Comments At what point does the shrinking difference no longer justify the move? But wait… the Exodus for the Sierra Nevada isn’t driven by savings.
Why It’s Good for San Francisco that Rents Dropped 29% to Multiyear Low. But They Haven’t Dropped Nearly Enough Yet by Wolf Richter • Feb 24, 2021 • 219 Comments The market is working on a solution to the “Housing Crisis” and “Exodus.”
Exodus from Big Expensive Cities Running out of Steam? Maybe. But Rents in San Francisco & Los Angeles Hit New Multiyear Low by Wolf Richter • Feb 24, 2021 • 106 Comments Massive Pandemic Shifts that triggered plunging rents in the most expensive cities and surging rents in cheaper cities still on display.
What Dropbox’s $400 Million Real-Estate Loss Says about Office Rents in San Francisco’s Biggest Office Glut Ever by Wolf Richter • Feb 19, 2021 • 114 Comments But working from anywhere has cost cutters drooling: “All expense categories benefited from lower facilities related costs, driven by our employees working from home.”
California New Car & Truck Sales Plunged 21.7% in 2020, Far Worse than US Total. Even Tesla Sales Fell. Nissan’s Collapsed. But EV Market Share Rose to 6.2% by Wolf Richter • Feb 12, 2021 • 142 Comments Even the huge used-vehicle market got knocked down, except for older, cheaper used vehicles.
