San Francisco - Done?

enframed

Kelly Slater status
Apr 11, 2006
8,968
4,001
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Del Boca Vista, Phase III
Most picturesque surf spot in CA.

Tech is "ruining" SF. The exodus is probably the same tech people that ruined it. It's not their fault chain stores are taking over, the chains see dollar signs and chase them. How many organic dog stores does one neighborhood need anyway?

Just when Lulu Lemon was doing so well there, too. Rats!
 

Duffy LaCoronilla

Duke status
Apr 27, 2016
24,841
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StuAzole

Duke status
Jan 22, 2016
17,546
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I have a feeling SF will be just fine.

Ebb and flow.

In fact, I'm already reading about how new affordability levels are drawing new residents in.
 

CutnSnip

Michael Peterson status
Sep 11, 2018
3,506
3,318
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Probably dropping in on you, California
I have a feeling SF will be just fine.

Ebb and flow.

In fact, I'm already reading about how new affordability levels are drawing new residents in.
rents are cheap AF all over the state.

looking at 8 apartments back in LA tomorrow including a building i used to live in by the grove where I paid at the time 2850 for a 1 bedroom. they now have the same floorplan for 2050..good time to be a renter in CA cause finding a home to buy is near impossible.
 
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Sharkbiscuit

Duke status
Aug 6, 2003
16,675
8,084
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Jacksonville Beach
rents are cheap AF all over the state.

looking at 8 apartments back in LA tomorrow including a building i used to live in by the grove where I paid at the time 2850 for a 1 bedroom. they now have the same floorplan for 2050..good time to be a renter in CA cause finding a home to buy is near impossible.
$.02

If rents are down that much, we will either have a V-shaped recovery, or those home prices will come down. IMHO homes went nuts because they ceased to be places for people to live and became investment assets. Your return on housing will be appreciation, and income. If the income went down 25% from peak, 33% of current baseline, it stands to reason the value of the asset itself will decline if the earnings per share (rent) does.

Or maybe not.

$575/month for the last 10 years out.
 

ghost_of_lewis_samuels

Billy Hamilton status
Oct 27, 2019
1,632
1,062
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I left SF in 2010 - homeless / drug abuse issues were a fraction of what they are today then, rent was do-able but still not cheap, city was gorgeous at a glance but grimey up close, ocean beach beat me up a lot.

NYC did a great job cleaning up, but it required a lot of aggressive policing which much of CA (government) seems against at the moment. I would guess that SF / LA may continue to see an exodus as businesses support workers living remote. It would either require businesses to force employees back to offices and/or cities to make some positive moves towards homelessness/mental health/attract descent jobs outside of tech/etc to improve quality of life in order to get real estate really pumping again. Of course, some locations will remain expensive (killer views / the best of locations).
 
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hammies

Phil Edwards status
Apr 8, 2006
7,018
3,616
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Most big cities' downtowns were pretty shitty places in the '70s and '80s. Then, inspired by NYC's transformation of Manhattan, many cities got on the "broken windows" policing bandwagon and cleaned up their downtowns, which brought in investment and gleaming steel and glass condo and office towers. Now that cops are public enemy number one and urban crime is on the rise, I suspect we'll see investment flee and a decade or two of urban decay again.
 

Surfdog

Duke status
Apr 22, 2001
20,096
1,202
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Oceanside,CA
Due to work from home popularity/allowances from Covid, people are realizing they don't need to live in expensive urban centers close to downtown jobs. Less expensive suburbias are still in high demand. Rents are hard to find in suburbs, let alone "affordable". SFH's are scarce, and prices are rocketing the last few months in the outer 'burbs at least 20 miles from urban centers. (edit)

At least here in North County SD.

Not sure about the LA/OC dynamic at the moment? That whole area is so urbanized, the town borders are meaningless (except known gangland areas)
 
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Surfdog

Duke status
Apr 22, 2001
20,096
1,202
113
Oceanside,CA
Nice contradiction there. North County SD doesn't have anything even close to an urban center.
That's not what I meant at all. I noticed I misspelled "for" instead of "from" urban centers. My bad.

I was just commenting that NC SD IS the suburb 20 miles from the urban centers (downtown SD) everyone is trying to move to find homes to rent or buy right now. It's a HUGE sellers market right now in NC SD (as big or bigger than the peak 2006-2007 crazy dayz). People are lining up to offer $30-50k over asking price in my little neck of inland O'side right now (last of the nicer/newer/better school) "affordable" sections of NC SD within 5 miles of beach). Rental homes are SUPER hard to find, let alone affordable ones.
 
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Surfdog

Duke status
Apr 22, 2001
20,096
1,202
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Oceanside,CA

:unsure:
:ROFLMAO:

My wife works there part time a few days a week in accounting. She only works 20 hrs a week to supplement her retirement income. She's back to showing a new horse, and hell if I'm paying for all that, along with the usual domestic expenses. She used to make pretty good coin back in her electronics senior buyer dayz. But that's long gone now after Obamacare wiped many people over 55+ out of the workplace due to skyrocketing medical insurance costs for those in that age bracket. Companies didn't want to fork out those super high premiums, no matter how experienced or good at your job you were. They'd rather suffer incompetence/errors than pay many more $1000's to insure an older person with experience. So it was temp (no bennys) or find something way below her pay grade.

Welk Resort is nestled in the back country hills north of Escondido with a golf course, pools, etc; (it's an old folks timeshare getaway dream/nightmare). Covid hit them hard last year, and wife was furloughed a few months. They did bring her back last Aug-Sept, surprisingly. It actually just got sold to Marriott resorts (last month) after hanging tough on its own since the 80's pretty well. Welk Resorts (even one in Cabo) were considered pretty nice/upscale for that type of clientele. Family decided to bail while the bailing was good, I guess?

There's actually more "urban" type locations in NC SD than that place, by far. But ya, not really any such thing as a "urban center" in NC SD, except "maybe" old town Escondido a few blocks, or a few blocks in Oceanside downtown. With the new 8 story monstrosity hotel almost done in front of the pier now (along with a few others surrounding), it will look pretty damn "urbany" soon in itself. But ya, you need to go downtown SD for any hint of urban. Downtown LA beats it all to hell.
 
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