SF added so many taxes and fees to construction of new housing (largely in 2016) that developers just went to Oakland instead.https://www.sfchronicle.com/bayarea/article/Oakland-dominates-SF-in-housing-production-14295592.php …
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I think a lot of people had been sitting on land in Oakland for years waiting until development penciled out
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SF interests land banking valuable land in downtown Oakland for decades in order to not have any less expensive inventory in Oakland compete with their higher priced SF projects. They artificially kept Oakland development down in order to benefit their SF interests.
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Rents for new inventory are very high in Oakland. Average rents in Oakland are deceptive because they include a larger amount of older inventory than in SF.
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