NYT: They Can’t Leave the Bay Area Fast Enough

"But the migration from the Bay Area appears real. Residential rents in San Francisco are down 27% from a year ago, and the office vacancy rate has spiked to 16.7%, a number not seen in a decade."

Manhattan by comparison saw rents drop 17% from a year ago and and has a 13% office vacancy rate. Double-clicking on the latter approximately a quarter of Manhattan's office vacancy were in the form of subleases compared to half in San Francisco.