Thanks, that's really useful data for those of us who use REITs in our income accounts. It's no surprise that San Francisco and Seattle are the two cities hit the hardest. Silicon Valley's other problem is that they're losing companies to Texas and other locations. Since the beginning of the pandemic both of our adult kids are able to work from their homes about 80% of the time. They use Slack, Chatter, Discord and MS Teams to maintain near in-office contact throughout the day. Companies are realizing that most people work more hours from home as they don't have to deal with commute time. New York City, Washington DC and California all have approved major funding to subsidize the transformation of office space to residential housing.
You never know who's swimming naked until the tide goes out - Warren Buffett
