“101 new listings, 101 price reductions.”
It’s not fun anymore.
In 9 charts. Red indicates the moves since the inflection point in June.
The inflection point was in June. This is how inflection points show up at the subcutaneous level in all housing markets.
High housing costs & taxes lead to this: “Once we decided we had to get our employees out of California, we went about our search systematically.”
Throughout the scandals, Facebook was clad in Teflon and nothing mattered. But today, it mattered.
No, it’s not Seattle. Denver is by far #1. New York isn’t even in the top 25. And it explains why rents in Chicago are collapsing.
It’s called “Housing Crisis” for a reason.
After the blistering spike earlier this year.
Rents in Southern California go nuts. Bay Area & Seattle “mixed.” Chicago & Honolulu in free-fall. New York City sharply lower. Washington DC loses grip. But rents soar 10-15% in many markets.