2018-03-12, 12:19 AM
$2,000 for a U-Haul to move out of San Francisco? Believe it.
![[Image: 750x422]](http://www.trbimg.com/img-5a9ee896/turbine/sd-u-haul-rentals-in-california-20180306/750/750x422)
A U-Haul truck is seen in the side mirror of a another truck sitting on a dealer lot. (AP Photo)
By Luis GomezContact Reporter
March 6, 2018
Usually, U-Haul truck rentals are advertised at an affordable sticker price, comfortably in the three-digit range. But a trend out of northern California is pushing that sticker price as high as $2,000, and moving Californians to disbelief.
![[Image: sd-1520366255-rz32gt001y-snap-image]](http://www.trbimg.com/img-5a9ef2b3/turbine/sd-1520366255-rz32gt001y-snap-image)
U-Haul truck rental costs from San Francisco to Las Vegas The San Diego Union-Tribune
The cost to rent a 26-foot U-Haul truck — big enough to move a three- to four-bedroom home — out of San Francisco headed to Las Vegas reached as high as $2,085 for four days. To rent the same truck going in the opposite direction is only a fraction of that cost — $132.
We used the uhaul.com website to confirm those numbers.
What’s causing the spike in U-Haul rental prices out of the Bay Area? There are more people leaving the northern California region than there are trucks available, according to the public policy think tank American Enterprise Institute.
This is hardly a new trend: Housing costs across California are so high that some people do decide to leave the state altogether. The cost of U-Haul rental trucks is one way to illustrate that trend, writes AEI economist Mark Perry.
“It’s a great example of supply and demand, and market forces in action — with one-way U-Haul truck rental prices reflecting relative scarcity,” Perry says in a blog post explaining the price hikes.
Perry says he looked at moving costs out of Bay Area cities to other cities across the U.S. including Phoenix, Portland, Austin, Nashville and Atlanta.
The story has been the talk of Twitter where it has become part of a common narrative about the state of California’s cost of living.
Last month, California’s Legislative Analyst’s Office reported that the state has experienced a net loss of about 1 million residents from 2007 to 2016. Most of these residents have relocated to states such as Texas, Arizona, Nevada and Oregon.
An analysis from the real estate website Redfin published last month offers more evidence of this trend — San Francisco was the top city with the highest loss of residents, a net loss of 15,489 in the last four months of 2017, compared to New York City’s net loss of 12,532 residents.
Where did people go? Redfin wrote that people were leaving “expensive, high-tax coastal markets like San Francisco, New York, Los Angeles” in search of homes in cities like “Sacramento, Phoenix, Las Vegas and Nashville, where taxes are lower and housing is more affordable.
Perry at AEI found that the cost to rent a 26-foot U-Haul truck on a one-way excursion out of San Jose was also much more expensive than a journey the other way.
Adora Cheung, a partner at Y Combinator, shared those rates on Twitter late last month.
Read more: http://www.sandiegouniontribune.com/opin...story.html
A U-Haul truck is seen in the side mirror of a another truck sitting on a dealer lot. (AP Photo)
By Luis GomezContact Reporter
March 6, 2018
Usually, U-Haul truck rentals are advertised at an affordable sticker price, comfortably in the three-digit range. But a trend out of northern California is pushing that sticker price as high as $2,000, and moving Californians to disbelief.
The cost to rent a 26-foot U-Haul truck — big enough to move a three- to four-bedroom home — out of San Francisco headed to Las Vegas reached as high as $2,085 for four days. To rent the same truck going in the opposite direction is only a fraction of that cost — $132.
We used the uhaul.com website to confirm those numbers.
What’s causing the spike in U-Haul rental prices out of the Bay Area? There are more people leaving the northern California region than there are trucks available, according to the public policy think tank American Enterprise Institute.
This is hardly a new trend: Housing costs across California are so high that some people do decide to leave the state altogether. The cost of U-Haul rental trucks is one way to illustrate that trend, writes AEI economist Mark Perry.
“It’s a great example of supply and demand, and market forces in action — with one-way U-Haul truck rental prices reflecting relative scarcity,” Perry says in a blog post explaining the price hikes.
Perry says he looked at moving costs out of Bay Area cities to other cities across the U.S. including Phoenix, Portland, Austin, Nashville and Atlanta.
The story has been the talk of Twitter where it has become part of a common narrative about the state of California’s cost of living.
Quote:Charlotte's Web @char_broiled
Charlotte's Web Retweeted Business Insider
True AF. I paid about $1,300 to rent a one way U-Haul moving from Oakland to Bend, Oregon. To rent one now going the other way it would be $265!!
https://twitter.com/char_broiled/status/...6078141442
Last month, California’s Legislative Analyst’s Office reported that the state has experienced a net loss of about 1 million residents from 2007 to 2016. Most of these residents have relocated to states such as Texas, Arizona, Nevada and Oregon.
An analysis from the real estate website Redfin published last month offers more evidence of this trend — San Francisco was the top city with the highest loss of residents, a net loss of 15,489 in the last four months of 2017, compared to New York City’s net loss of 12,532 residents.
Where did people go? Redfin wrote that people were leaving “expensive, high-tax coastal markets like San Francisco, New York, Los Angeles” in search of homes in cities like “Sacramento, Phoenix, Las Vegas and Nashville, where taxes are lower and housing is more affordable.
Perry at AEI found that the cost to rent a 26-foot U-Haul truck on a one-way excursion out of San Jose was also much more expensive than a journey the other way.
Adora Cheung, a partner at Y Combinator, shared those rates on Twitter late last month.
Quote:Market forces in action: Bay Area out-migration reflected in the supply & demand of one-way truck rentals.
http://www.aei.org/publication/san-franc...tal-rates/
![[Image: DXFAq_WU0AAqko5.jpg]](https://pbs.twimg.com/media/DXFAq_WU0AAqko5.jpg)
Read more: http://www.sandiegouniontribune.com/opin...story.html