Tech hub rentals lose luster as coronavirus fuels urban exodus
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Rental prices within the nation's tech hubs dwindled last month amid an exodus of workers seeking larger living spaces as shutdowns due to the COVID-19 pandemic force them to work from home.
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EXPENSIVE-CITY EXODUS LEADS TO MASSIVE RENT DECLINES IN NYC, SAN FRANCISCO
The desire for more space coupled with the fact that tech companies are extending their remote-working policies, "is putting pressure on rents in the most expensive urban metros and tech hubs," Danielle Hale, Realtor.com chief economist, said of the findings in a new report from her organization.