San Francisco's Rents Drop 35% - Long Term or Temporary?

[Ujwal Velagapudi]

Per the Bloomberg article, it seems rent for studios have dropped about 35%, 1 bedrooms 27%, and 2 bedrooms 22% as of November 2020.

I know it's been hotly debated whether cities will die out or not, but I want to look at it from a micro standpoint. I want to hear from those that have a vested interest (they own assets in the SF/bay area) and also those that live there, but have no assets there. I think whether or not you're vested in the city carries some weight as to how you perceive the situation & your future outlook (or desires).

- I'm interested to see if this will be a temporary shift, or a long term impact that could take years/decades to come back to 2019 heights? 

- Do you think it will get even worse, before it gets better, based on the trajectory of the graph in the article (and looming moratoriums ending, more lockdowns, etc.)?

- Putting our investor hats on, is this the time to buy, in 2021, in SF (greater Bay area too)?? Even if it doesn't bounce back to the same 2019 levels immediately, like a pendulum the hardest hit should recover at a higher pace, especially when it was external factors...right? Would you all invest in SF now?

Thanks in advanced, interested in hearing all your perspectives! It'll help me to learn as well if you mention if you are a local, and if you do have any business or RE assets in the area, or if you're just providing thoughts as a non-local to SF.