News Swipe: San Francisco's Mass Exodus

SAN FRANCISCO - Aug. 28, 2020 - PRLog -- On today's News Swipe segment,  Bay Area criminal defense attorney, Daniel Vaswani, discusses a surprising phenomenon that has occurred.

Rental vacancy has risen during the pandemic. Daniel notes that it is quite surprising, considering that major tech companies, such as Google, Facebook, and Apple have extended Work from home (WFH) orders until 2021—Facebook and Twitter have even made it permanent for some.

So, If many are working from home, then why are apartments vacant? Well, those spending big amounts on rent, such as $4,000 a month on an apartment, have now decided to leave. People live based on where their commute is, and now that the commute consists of a short-walk from the bedroom to the living room, many have decided to move to where it is more cost-effective, explains Mr. Vaswani.

The repercussions? COVID-19 WHF orders have caused for there to be a massive amount of real estate on the market, which is bad for landlords. Unpaid rent and vacant apartments, ultimately means that everything local will suffer. "Keep this is mind and do what is best," says Daniel Vaswani. Food for thought.

"San Francisco is now crawling with moving vans," shares a news outlet.

"Lots of units opening up and no demand. It's causing rent prices to drop, and the number of open spaces, lead to other issues that we didn't anticipate." -Daniel Vaswani

Watch full video here: https://www.youtube.com/watch?v=MOt9bhwvRKQ



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