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Rent has plunged by 11% in San Francisco, 8.5% in New York and keeps dropping in major US cities as employees who can work from home flee to cheaper suburbs that struggled to find tenants before the pandemic

  • Analysis from RealPage revealed the biggest changes in effective asking rents, factoring in landlord concessions, between Q3 2019 and Q3 2020
  • Rent has plummeted in high-cost cities including New York, San Francisco, Los Angeles and Boston as many fled in the height of the pandemic
  • Rent in San Francisco fell 11% driven in part by an exodus of Silicon Valley workers out of the notoriously expensive Bay Area
  • Several tech giants including Google and Facebook extended their remote working policies until at least 2021
  • New York City rent fell 8.5% as residents fled the Big Apple when it became the virus epicenter of the world and many are yet to return  
  • Many have packed up for good as they lost jobs in the tourism, entertainment and restaurant industries that used to be the lifeblood of the city 
  • Areas that were less popular in pre-pandemic times have seen a surge in annual effective rent with rent in Riverside, Sacramento and Memphis on the rise  Read more via DailyMail

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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