www.sfexaminer.com >> Local News
Rental prices for apartments in The City, which had been skyrocketing for nearly two years, fell in October, as an avalanche of pink slips across San Francisco weighed on average household incomes and led freshly unemployed workers to abandon city living, new figures show.
The average rent for a one-bedroom unit advertised on craigslist.org fell 2.4 percent in one month to $2,293, according to the city controller’s October economic barometer report, released this week. That price, however, was still 3.7 percent higher than at the same time last year.
San Francisco rents started falling in October and continued to fall in November, according to Victor Calanog, senior economist at national research firm Reis Inc.
OMG. What is going on here?
If this isn’t a sign of the apocalypse, I don’t know what is.
No no… the world is not ending. This is clearly just a blip. I think the real reason is that renters are flocking out to buy up some of those sweet deals in Redwood City, Manteca, and other places.
Yeah. That must be it.