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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 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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