The new Real Estate Bubble has arrived.
OK, it’s getting a little crazy: Massive shifts due to working from anywhere and the Pandemic. But some of those shifts started well before the Pandemic.
The dollar lost purchasing power with regards to houses at the fastest rate in six years.
“It was more drama than any market could withstand as Manhattan sellers started slashing prices.”
There is already a sudden and historic housing glut in San Francisco.
You guessed it: For over half of it, taxpayers are on the hook. Time to take a look.
While landlords are muttering, “And this too shall pass.”
Rent collection data from 11.5 million rental apartments.
Seller lost $12 million, or 35%, on a condo at One57, on Billionaires Row, adding to the list of big money losers in the condo tower.
San Francisco rents plunged by stunning 27% in 18 months. But in 5 big cities, rents jumped by 20%+. But in some of the cheapest cities, rents dropped.