[acchow]

Largely SOMA and parts of the Mission and the Van Ness corridor. It's mainly areas which generally feel less like a neighborhood and more like a bustling city - mainly areas where renters are more OK with living in than homeowners would be willing to purchase in. A great example is the new Chorus building which opened in 2021 on Van Ness and Mission. It remained mostly empty throughout 2021 despite offering 10 weeks "free rent" with a 1 year lease. Stunningly gorgeous building, incredible amenities, but a subpar location - a condo here would be sold at a heavy discount because of the location, thus this is a luxury rental apartment instead. Across the street is the new Fifteen Fifty building, also with heavy "free 2 months rent" discount for a 1 year lease.

But even in the most desirable neighborhoods, rents are still down about 10-15% compared to pre-COVID

[iancmceachern]

I would revise this statement: "mainly areas where renters are more OK with living in than homeowners would be willing to purchase in"

To say: Areas that appear less like traditional neighborhoods with single family homes and more large modern condo buildings.

Our building, and many around ours are largely condos, not rentals. They don't look like traditional houses, but even in this more modern area with multi story buildings and retail all over the 1st floor it's not that it's a place that people don't want to buy homes, it's that there are no "homes" to buy, just condos.

[ido]

Is the word home not used to describe condos as well? I would have figured it’s a place with no houses to buy.

[acchow]

yes, buying/owning a home does include condos.

[acchow]

I use the word "home" to also include condos. Home does not mean "house".

Hayes Valley has tons of condos - homeowners want to buy here. Homeowners don't really want to buy at 6th and Mission and a Condo there would be heavily discounted per sqft.

Mission Bay also feels like a neighborhood - calm, some park space, all condos