<story><title>San Francisco, Silicon Valley rents plunge amid downturn</title><url>https://www.sfchronicle.com/business/article/San-Francisco-Silicon-Valley-rents-saw-sharp-15307118.php</url></story><parent_chain><item><author>jcomis</author><text>I think the reality will set in soon on this once the CARES bonus UI is removed (and if it is not replaced) and the PPP loans run out. Right now everyone I know in real estate is still convinced it was just a minor blip and love to cite cherry picked stats about how a recovery is already under way.&lt;p&gt;Coincidently I have been seeing a lot of fully furnished units coming on the market which I assume were former Airbnbs.</text></item></parent_chain><comment><author>ra1n85</author><text>Two things:&lt;p&gt;1. The consequences of having millions of unemployed people with bills to pay and no income are too much for a nation, let alone politicians in an election year.  My bet is that the payments will be extended or replaced with something as the alternative is not viable.&lt;p&gt;2. WFH has already started normalizing, and will shortly become a differentiating perk offered by companies.  I don&amp;#x27;t suspect that may of the people living in tech hubs would choose to continue doing so if they had the opportunity to live anywhere they wanted (of course while considering COL adjustment).</text></comment>
<story><title>San Francisco, Silicon Valley rents plunge amid downturn</title><url>https://www.sfchronicle.com/business/article/San-Francisco-Silicon-Valley-rents-saw-sharp-15307118.php</url></story><parent_chain><item><author>jcomis</author><text>I think the reality will set in soon on this once the CARES bonus UI is removed (and if it is not replaced) and the PPP loans run out. Right now everyone I know in real estate is still convinced it was just a minor blip and love to cite cherry picked stats about how a recovery is already under way.&lt;p&gt;Coincidently I have been seeing a lot of fully furnished units coming on the market which I assume were former Airbnbs.</text></item></parent_chain><comment><author>xur17</author><text>&amp;gt; Coincidently I have been seeing a lot of fully furnished units coming on the market which I assume were former Airbnbs.&lt;p&gt;I&amp;#x27;ve been noticing this as well (I can still find some of them on Airbnb actually).&lt;p&gt;I&amp;#x27;m currently in the market for a house, but wondering if waiting a year might be a wise move..</text></comment>