Riots, Lockdowns Implode Rental Markets in Democrat-Run Cities

Written by John Nolte | Published by Breitbart on October 31, 2020

“Renters have never had so many options in Manhattan,” reports Bloomberg.

“The number of apartment listings in New York’s most expensive borough has tripled from last year, the highest figure for vacancies in recent history. Asking rents in Manhattan, Brooklyn and Queens have imploded.”

“Yet the renters are staying away,” Bloomberg continues. “Since the beginning of the pandemic, cities on both coasts have seen sharp declines in average rents, even double-digit dips for some.”

I encourage you to read the full story. For those of us who live in the real world, who have not had our perspectives violated and cracked by the national media’s surreal and skewed bubble, none of this is anything other than what intelligent people expected. So while the numbers are not surprising, it is still quite an experience to read them.

Let me summarize the best I can…

In 30 core cities, the average rental price has plummeted by an average of more than five percent, while rents in the suburban areas around those cities are up a half-point. This is not due to some big swing in a riot-prone Chicago, Seattle, or Portland skewing everyone else. In 27 of these 30 cities, “suburban rents are outpacing city rents.”

This collapse is also not due to stagnation. People are not staying put. In fact, Rob Warnock, a research associate at Apartment List, says, “We do see people moving effectively at the rate they would be moving right now if there were no pandemic.”

In Charlotte, rents are down two percent while the suburbs are up five. In Dallas, rents are also down two percent. Seattle crashed seven percent. In Silicon Valley, there’s been an 11 percent drop. Boston is down eight percent, New York down 13 percent, and San Francisco down 18 percent.

Come on, y’all…

It’s not the coronavirus… It’s these stupid and unnecessary lockdowns and restrictions. I’ve lived in a couple big cities. It can be great to live in a city, but not if you’re trapped in a small apartment or home for months and months and months… Especially when you’re locked down by your Democrat leaders for no valid reason other than to hurt Donald Trump’s re-election chances.

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