According to a recent report, "[t]he vacancy rate for U.S. apartments hit a three-year high in the first quarter and asking rents dropped the most in at least 10 years." And no where is that more felt than in San Francisco. This quarter, San Francisco/Bay Area saw, where the "biggest effective rent drop in the country," plummeting from 2.8 percent to $1,775. What's more, according to Curbed, rent rates have not yet seen bottom. (An aside: any choice studio availabilities for under $1,000 on Sutter Street, or in Hayes Valley or Glen Park should be sent here.) Also, is anyone calling Blu, Cubix, or one of those huge boxes in Mission Bay home? Seems like a good time to snatch those up.