Rents in San Francisco are (surprise) on the rise! As less people qualify for loans due to the tighteninig restrictions in the mortgage industry (restrictions that I agree with wholeheartedly), more people need to rent, rent, rent their homes in San Francisco. And what happens with supply & demand? As demand goes up, supply goes down, and prices skyrocket.
One analysis points out that “In San Francisco, a full-time worker needs to earn nearly $30 an hour to afford a modest two-bedroom apartment. In West Virginia, the same “housing wage” is about $10 an hour.”
Check out these thoughts from across the internet on the San Francisco rental market:
Bay Area rental market roars back
Rents on the rise in San Francisco
As rent prices rise, families seek shelter