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Pandemic rent control? Bay Area landlords lose their pricing power

It took a virus, not political action, to prune the pricing power of California landlords.

The coronavirus has hammered the state economy, and the once rock-solid residential rental market has been especially hard hit. Data from the Consumer Price Index shows us that business limitations designed to slow the pandemic’s spread have dramatically changed consumer spending habits — just as California voters will weigh a rent-control measure Nov. 3.

In San Francisco, Alameda, Marin, Contra Costa, and San Mateo counties, rental costs rose by 2.2% in the year compared with 3.1% a year earlier. The last time rents rose slower, by this measure, was 2011.

And in the Inland Empire, where the CPI has tracked inflation for just two years, rents rose at a 3.6% annual rate vs. 4.7% in September 2019. Read more via SiliconValley

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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