Sin City

Revenue Plunge “Worst in the State” Amid COVID Exodus… Every un-godly city on earth will feel the sting of death Angel. San Francisco Rents Plunge 35% As Exodus Continues  The median rent for a studio apartment in San Francisco plunged 35% in November from a year earlier, to $2,100, while costs for one-bedrooms slumped 27% to $2,716, according to Bloomberg, citing a new report from Realtor.com.  Declining rents is more confirmation of the exodus from the Bay Area (as we’ve noted: here & here) as remote working allows city dwellers to leave the metro area for suburbs, Lake Tahoe, and elsewhere.  Danielle Hale, Realtor.com’s chief economist, said San Francisco-based technology “companies have been among the most flexible with allowing people to work remotely, and a lot of workers are taking advantage of that.”  Hale expects rents in the Bay Area to eventually recover, though it depends on how quickly…