Rents in major cities across the country have seen steep declines in recent months, as the coronavirus pandemic causes people to flee crowded urban areas.
San Francisco recorded the biggest decline in rents on record in May, when the average rent of a one-bedroom apartment declined 9 percent from the same month a year ago, according to apartment listing platform Zumper.
'It seems the pandemic has shifted the demand for apartments away from the most expensive cities, since usually demand picks up as we head into summer but now the opposite is true,' wrote Zumper analyst Crystal Chen.
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10 comments:
those propertys will drop to the price of a song, just as it is in Detroit and has been for years. Nobody wants to live in those areas and you can buy a house for a thousand dollars. If you can dodge bullets fast enough its a great deal. Yes you read that right for a thousand dollars you can buy a house. Just be able to duck fast. These cities will end up in the same fashion, you won't be able to give that property away.
So, they were all over-priced from the start. What a surprise!
Only people dumb enough to want to live in one of these cities is also dumb enough to pay the rent prices.
751 - BINGO!!!!!!
7:51 no they weren't overpriced. They were priced to what the market bears at a given time. It's called pragmatic pricing.
You couldn't pay me to live there! I used to live in SW Baltimore (rowhouse)
The place is a shithole - glad I moved!
It's definitely not dropped around Salisbury $900+ for an old 1 bedroom apartment + utilities. That is crazy. Who makes all this money? Everyone cries poor and they do not have work, who can afford these prices here and/or Nationwide? The cost of living far exceeds income.
832 - too early for big words (pragmatic)
(snicker snicker)
June 19, 2020 at 9:21 AM
The "management" companies are the biggest scam around here. An ordinance states that if you do not live in Wico county but have property you MUST have a management company
This is the scam;
They put up a house for rent.
Charge everyone $35 to apply, you have to pay and apply for a house you have not been be allowed to see, so you don't know just how @hitty it is. They collect $1000's in these fees. Let 5 people see the house and run a credit check on 2, pocketing the remaining thousands.
Think its a joke?
There was recently a house on Johnson Rd advertised. They got over 100 apps the first week. The pictures were from 8+ years ago. They showed it to a couple of people and pocketed all the rest of the app fees.
And you have to PAY for every single house you apply to. So since you are now out $35 and didn't have a chance in hell of getting that house you now have to pay for every other house you are trying to rent.
Welcome to the ghetto and their rental scam, oh and don't forget. 70% of ghettobury is rentals. Add up how much they are making by listing and not renting places.
They don't give a rats behind if they rent a house, when they are pulling in 3500 a week in app fees and then taking a percentage off the owner when they do finally rent it.
Never have I ever had to deal with such ignorance and scams. Only here.
Gas Station Pricing has taken HOLD !!!
They are the Biggest GOUGERS of all !!!! Never went down during
Pandemic & Now going UP already , & Pandemic is still Not over !!!!
They use their Supply & Demand excuse to Raise Prices but never use
it to LOWER prices , when the Demand was Down , Plus they even HOLD
supply Off the market to keep Prices from Falling past where they want
it to go !! That should be Criminal & Not Allowed !!! Not Fair at All !!!
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