San Fransisco’s real estate market has reached a peak height

According to Trulia Chief Economist Ralph Mclaughlin, San Fransisco Bay area rents and real estate prices are cooling off, down from 15-17 per cent growth year over year to 5 to 6 per cent. As a result, landlords from San Fransisco’s South of Market neighbourhood, where Airbnb, Pinterest and Yelp are located, which is home to Apple, are doling out tantalizing incentives to land tenants, such as four to six weeks free rents, discounts to tech workers, and even free bikes. Mclaughlin explained, “As buyers pull back because of price-induced reasons, there is less competition for homes and so price growth moderates.”