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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 is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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