Scott Safadi on the state of the rental market

Scott Safadi of Cal Bay Property Management has been witnessing a softening in the Bay Area rental market throughout the course of 2016. This softening was inevitable given the astronomical rent increases that we have seen over the past five years. Scott Safadi does not believe that it is a matter of hitting a price ceiling. Rather, it’s an indicator of a slowing in job growth, specifically in the high paying tech sector. Housing prices continue to rise and are at levels where most renters do not have the luxury to decide whether to purchase or continue to rent. 10% or 20% down is simply unrealistic for most, so renting continues to be a strong option. Read the article below for some more data.

Biz Journal Article on Rent Slowdown