Posted on 09/12/2022 10:04:20 PM PDT by SeekAndFind
When families with kids started fleeing SF years ago, that should have been a wake-up call.
It wasn’t.
Hint: Cities that send families with children voting with their feet are not good places to live.
Good luck with that.
Especially in 1906. And 1989. Truth is, people have very short memories, and live in confined time spaces. The place is built on shaky ground, and may not be rebuilt to its former status after the next big one. Who would want to reinvest in a social hellhole that can be destroyed at any moment? Give it back to the seagulls, seals, and otters. They are definitely smarter than the politicians AND voters who have destroyed s.f.
Lots of poop to clean up.
“San Francisco Is On The Verge Of An Economic Reckoning”
But at least they have bathhouses. That’s what really matters. /spit
We need to get out in front of this and pre-emptively BLOCK efforts to offload the unsustainable financial burden incurred by the blue states....make it clear that they may not dump this onto taxpayers in red states who never got a vote to put the politicians into office who made these promises in the first place.
I can attest to the 100 mile rule.
Sacramento has been in inundated with people from the Bay Area. They are driving up housing even during this supposed housing downturn. Houses in my neighborhood are old. Around 1,100 sq ft. The neighborhood is not the greatest. Houses peaked around $525,000. A flipper bought the old boarded up house down the street for $425. Completly redid it. Added a pool. He listed it for $755. No one thought it would sell. The neighborhood doesn’t support that sort of price. We were all wrong. Some Bay Area tools bought it and moved in. Now they stand out like a sore thumb with their BMW and Mercedes in the driveway.
Depending on the outcome of the elections, it sounds like another huge federal bailout is in the cards.
“Up steps some hero reformers for the big turnaround.”
Nice fantasy. Leftist cities have been in decline for 60 years, and your “hero” reformers have never showed up.
They’re not my hero reformers.
I could care less and never said these cities would not remain leftist.
Eventually they’ll get elected officials committed to cleaning up the crime and filth (with applause) then real estate values will rebound. Substantially!
Buy low and sell high or just hold properties for long term lease and rental.
The actions of institutional investors are not news in residential markets so why doubt it doesn’t include commercial?
Many commercial properties in cities are owned by old families that collected easy rents for years. They become easy picking by the ruthless.
Create vacancies through poor public policies and you can bend the market.
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