San Francisco Tenants Break Leases at Alarming Rates
thesfnews.com
thesfnews.com
So, 50 landlords (~16% of 315) reported that they had at least one tenant unexpectedly leave early? Over what time period? How many tenants in total? This may or may not be an interesting story - we can't tell.
What would be more useful is of the 10,377 apartments these landlords represent, how many of those apartments broke their lease?
Disclosure: I haven't read the linked article.
Realestate figures always have so many adjustments that I can’t tell what anything means.
Before somebody complains about my numbers, I did round values to make the math simpler. The real values aren't that far off.
> The survey revealed that 16 percent of owners reported residents broke their leases or unexpectedly gave a 30-Day Notice to Vacate.
An unexpected 30-day notice is how my Bay Area lease terminated gracefully. Like, it was required that I do that, by the contract written by my landlord. But I don't consider graceful, agreed upon move-outs as "breaking" a lease, which to me implies someone trying to get out of the contract.
But also… this would be hardly surprising? My rent was going up 10% YoY when I left, and it was clear that Bay Area politics were never going to fix the rampant housing problems. With all the layoffs I've read about as a result of COVID-19, I bet some people are moving out! (I moved prior to all this craziness.)
One of my co-workers even told me that he had every intention of protecting "his" piece of the pie, as much as possible, by letting as little as possible get built as he could as a voter. It was just amazing to me how so many people thought they had the right to tell other people what they could not do with "their" land. Zoning is one thing, but the Bay Area is a whole different thing.
(And in fact, we were on a year-long lease, and first transitioned it to a month-to-month for the purposes of being able to eventually serve that notice.)
I'd like to come back, but my company has consider allowing me to stay here. If it's with the same pay, it would be a no-brainer. But I do love/will miss the Bay Area. I'll probably be back when I'm a bit more financially stable.
I was going to ask, what is an ideal place for you? Like let's say cities lose their allure because clusters of event venues won't exist and nobody has the capacity to meet new people even if watering holes did implement distancing, since everyone is distanced.
As someone that didn't retreat to my parents house and has a new favela in my SF neighborhood amidst all sorts of chaos, I've been drawing a blank for the last 4 months
If I knew, I'd be there :D Unfortunately, I have no idea. I like my family and the cost of living around where I live (Midwest), I love the hustle and bustle of the Northeast, and I like the outdoors and political vibe of the West Coast. Even lived in Germany for a bit in college and loved that.
Open to suggestions, haha
I have lived in SF / Boston / London / Portland, and I think London has the bits of all. Comparing to the west coast, London has equal or better food culture, similar political vibe but much more diverse yet localized within the city, the hustle and bustle of living in a true city, the architectural beauty and most importantly quite nicely located with accessible sites of natural beauty within the UK and Europe.
I think the only thing that is negative about London vs SF is the weather :-/ Also, it's not a very friendly place to move at the start of your career, quite closed for newbies and an old boys club so that's a caveat.
But yeah I like Europe-area economic and financial centers for proximity to the rest of Europe and they are all centrally located in a diagonal line from London to Dubai.
I wish the US had a similar centrally located clusters, instead of the coasts at the far extremes of the continent.
Firstly, Brexit has still not happened in any real sense (there's a transition period till the end of the year).
Secondly, the UK government appear to want a minimal trade relationship with the EU, which will hit services trade pretty hard (and the UK exports lots of services).
The likelihood is that many large companies will need to move staff/assets to the EU to retain their licenses.
For me, specifically (as I'm a data scientist) this probably means that data products out of the UK are going to be tricky to sell.
I would expect that there will be a drop in London property prices, but a larger drop in jobs.
Don't get me wrong, London is a great city, but I (personally) would stay away from moving there till at least next year, as the implications around Brexit and trade should be much clearer by then.
I was under impression that whatever you just mentioned would have happened by now, but Nissan and Unilever are now moving to UK and all the speculations are going down the drain.
I have come to a conclusion that all the anti-brexit hysteria has been priced in, and indecisiveness is proving more costly as time goes by!
So, the Unilever thing is a stock move, that really only occurred because the shareholders in the City didn't like it (being removed from the FTSE would have been very bad for their share price).
My understanding is that Nissan (and all the car-makers) rely on frictionless trade in goods, which probably isn't going to happen. I believe that they will probably invest in the UK for the domestic market, but we'll see.
Again, nothing has practically changed in terms of trade, and will not until January 1st of next year. We'll see I suppose.
As an outsider, for something as zero-sum as buying a home where supply is low, cost of waiting and indecision can be pretty high.
If anything 16% of their poll seems totally reasonable given the market & circumstances.
I thought about investing, but it seems that mortgage lenders now expect a 40% down deposit on the property.
Since when did people born in 1995 counted as Gen-Z?
The Wikipedia article on millennials says 1981 to 1996 is a "widely accepted" range of birth dates. The supporting reference[0] doesn't seem that authoritative, but it might be kind of self-fulfilling.[1]
[0]https://web.archive.org/web/20190313195431/http://te.tbr.fun...
I do agree that generational nonsense has been pretty rich lately.
-- Nihilist raised by the tee-veeLook at the 5 year chart. it basically shows inventories are still roughly the same place they were at this time the last 5 years.