San Francisco is hit by another huge blow as RESIDENTIAL property market begins to tank, with investor landlord ditching 459 homes across 12 buildings due to plunging occupancy blamed on crime

UK Daily Mail ^ | February 03 2024 | ALICE WRIGHT

[knighthawk]

San Francisco's residential property market has hit troubled waters as a major investor landlord announced the sell-off of a large section of its rental empire this week.

Landlord Mosser Companies defaulted on a 2018 loan for $88 million that was underwritten by its 459 rental units across 12 buildings in San Francisco.

The company's creditor has now hired real estate firm Cushman & Wakefield to sell the multifamily home properties, The San Francisco Chronicle reported.

[Enterprise]

As we have seen, there is a serious reality disconnect with liberals. They want a crime free city, a city without human waste everywhere, a city without homeless people blocking the sidewalks and business entrances, and some do not want a sanctuary city.

But, liberals don't like to be the "bad guy." They don't want to be the enforcers of laws and be the people who force the homeless into shelters or made to leave the city if they don't comply.

They can have a nice city again, but it takes a profound change in voting habits. If they elect conservatives as Mayor, District Attorney, and City Council members, they will get people who are problem solvers. They will get people who are less tolerant of crime and filth and who will start enforcing the laws necessary to clean up the city again. But he disconnect prevents liberals from voting for what they want. They can't change. They can't mature.

[cgbg]

The interest rates are a lot higher than they were in 2018.

That means the cap rate is a lot higher—so even if SF was not the poop capital of the country this would be a disaster.

[simpson96]

San Franciso - soon to be Detroit.

Another Democrat success story.

[LibertarianLiz]

I think I read an article last week about the large mall in SFO's city center, that is closing down completely. So many of the stores have already left, that they have no choice but to shut down the entire mall. I think they said that Nordstrom had recently departed and that it had a 5 story store there. There was a photo of the Nordstroms, with the metal grates across the multi-level entrances to the store.

When hubby and I were first married, no kids yet, I worked for United Airlines. I loved flying from Seattle (where we live) to San Francisco just to visit, walk around, saw the Alexander Exhibit one year. I loved that city, it was beautiful. It is hard to imagine how this degradation was allowed to happen. I agree with the poster who pointed out that this will go on until these people finally realize (if they can realize) that they need to change their voting habits.

[steve86]

“Biden will be the fall guy for this new depression.”

Makes no sense.

[moviefan8]

I don’t think a conservative will want to run in liberal areas and make changes. Conservatives leave and don’t stay to fight.

[Vaduz]

Nothing in San Francisco worth moving there for or here in Los Angles it’s a money pit and the sh*t holes grow by the day.

[workerbee]

It seems like 90% of everything I read about U.S. immigration, crime, housing, etc. comes from the UK Daily Mail. Why is that? (serious question - I know our own media is just a cover for Dem corruption, but why is the Daily Mail so involved?)

[workerbee]

If they elect conservatives as Mayor, District Attorney, and City Council members, they will get people who are problem solvers. They will get people who are less tolerant of crime and filth and who will start enforcing the laws necessary to clean up the city again.

Yeah, but gee, then they can't kill babies and cut off children's genitals. So, hmmm....

[Enterprise]

"Yeah, but gee, then they can't kill babies and cut off children's genitals. So, hmmm...."

Some of us love life and cleanliness, others admire death and child mutilation.