The Big One Hits SF

From SFGate: S.F. office space rent drops 22%.

San Francisco office rents dropped 22 percent during the fourth quarter from the previous year, the largest decline in seven years, as the shrinking financial services industry flooded downtown with empty space.

The average price for Class A space in the Financial District sank to $41.34 per square foot in the fourth quarter, down from $53.14 a year ago, according to a preliminary report by brokerage firm Colliers International. It was the biggest drop since the fourth quarter of 2001, when rents declined 49 percent following the dot-com implosion and Sept. 11 attacks.

But SF is special. Prices go up forever. They are not making any more land. Buy now before you are priced out forever.