By Andrew Chamings, SFGate, August 15, 2020
“Online real estate company Zillow released new statistics shining a stark light on the issue this week. Their ‘2020 Urban-Suburban Market Report’ reveals that inventory has risen a whopping 96% year-on-year, as empty homes in the city flood the market like nowhere else in America.
“The astronomical cost of owning a home in the San Francisco city limits — which has been sky high for over a decade now, since the second tech boom — had to break at some point, and the coronavirus seems to be the straw that broke the camel’s back.
“ ‘When comparing the principal city to its surrounding suburbs, the San Francisco metro area does break the mold…Whereas in similar cities like Los Angeles, Miami, Boston, Seattle, and Washington, D.C., declining or flat inventory is a consistent trend within and outside the city limits,’ the report states.”
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