Winners & losers from today's WFH announcement:
Bay Area renters
Startups that want a presence in the Bay
Parents/mid-career (esp. moms!) that want WFH
POC that want to work from diverse cities
Budgets of second-tier US cities
Property owners in Santa Cruz, Napa, etc
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Replying to @kimmaicutler
Upcoming June
@Zumper rent report shows (another) big downward movement in 1BR SF apartment rents1 reply 4 retweets 36 likes -
Down 7% YoY last month. Higher drop this month coming
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Whole Bay Area or just SF?
1 reply 0 retweets 1 like -
Just SF. Mt view is down 14% and Menlo park 15%
1 reply 2 retweets 14 likes -
Do you think rents trending sharp downward or gradual? Even a drop to $3300 or $3k for 1bed is still way out of reach for most people
1 reply 0 retweets 4 likes -
Gradual, but June report (on May data) will see pace downwards continue. This is real. Won't end at 50% of peak, but going to continue to fall for a while. This WFH/remote news is real
3 replies 3 retweets 11 likes -
Wonder how much it reverses once office opens again.
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Replying to @kimmaicutler @tpap_ and
Yep we'll track. Honestly this will depend on what % of startups/LargeCos actually go back. If you believed Twitter today it might be sub 50%
1 reply 0 retweets 4 likes
I'm curious about the % of workers who will want to come into the office 1-2X a week but still live regionally and how that affects different markets regionally.
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Replying to @kimmaicutler @tpap_ and
I think this is going to be very common. Startups downsizing offices but keeping *something*, default WFH policy but keeping a space for optional collab/interviews/board mtgs for locals or team to fly in to
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Replying to @anthemos @kimmaicutler and
Yeah I think the new office will become more of an immersive brand experience (like where retail has been going) for visitors and collab/training site for teams. Most will be remote.
0 replies 0 retweets 1 like
End of conversation
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