“Going down?”
Whatever. Redfin:
A quarter (24.5%) of San Francisco-area home sellers cut their list prices during the four weeks ending Aug. 16, the highest share since at least 2015, when Redfin began recording this data. That’s more than double the rate from a year earlier, marking the largest annual increase in the share of active listings with price drops among the 50 most populous U.S. metro areas.
San Francisco’s price-drop rate has held steady at above 24% in late summer, clocking in at 24.1% during the most recent period in our data—the four weeks ending Aug. 23.
It’s not just San Francisco, it’s every big city Democrats have ruined:
San Francisco was one of just 11 of the top 50 metros that experienced an increase in the share of listings that cut prices, rising to 24.1% from 11.4% a year earlier. Chicago, Philadelphia and New York were among the 10 other places where the rate of price drops rose from the prior year during the four weeks ending Aug. 23.
Will San Francisco recover? Seattle? Portland? Minneapolis? Chicago? New York? Why should they? Grasshoppers need Ants, but Ants don’t need Grasshoppers – and Ants can live anywhere now.
Manhattan is easier to get a grip on, perhaps: What made it Fun City was a secondary consequence of everything that made it Gotham City. No more Gotham, no more Fun.
