San Francisco Apartment Rents Crater Up to 31%, Most in U.S. • Hacker News Board

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#611

Post by sidlls » Wed, Oct 14, 2020, 5:28 PM UTC

dylz wrote: post #445

sidlls wrote: post #433

Earlier quoted context omitted.

Sometimes people just want to go have a get-together including well-trod "comfort food" style means, but with someone else (the restaurant) doing the cooking and cleanup. I don't go to restaurants to be entertained by the food or "impressed" by the "creativity" of the chef, and I'd wager neither do most people.

Then you're looking for the equivalent of a solid takeaway place, not somewhere where you go for the "experience" and "gastronomy"

That’s just one aspect of a vibrant food culture. That is, access to multiple cuisines is a different discussion from how fancy the preparations are.

There are plenty of “sit down” restaurants that aren’t fancy, but are more than “solid takeaway” that fit in this picture. And these are what most folks actually think of when they picture dining out.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#612

Post by NeutralCrane » Wed, Oct 14, 2020, 5:34 PM UTC

refurb wrote: post #527

bitbckt wrote: post #363

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Just today, for example: https://www.washingtonpost.com/health/2020/10/13/covid-vacci...

I don't think the downvotes here are fair. Drug development is hard. Most candidates never make it to market. This is a vaccine for a virus that's never been successfully vaccinated against. Expect a majority of the vaccines in trial to fail over the next 6 months, either for safety or efficacy.

> This is a vaccine for a virus that's never been successfully vaccinated against.

For lack of economic need. Most coronaviruses only cause mild symptoms, so there's not been a need for one. SARS vaccine efforts died early because the disease itself died out and there was no impetus to continue searching. MERS is similar in that, even though it hasn't gone away, it burns itself out so quickly that the need for a vaccine is relatively small, and therefore research efforts have been limited.

> Drug development is hard. Most candidates never make it to market.

For vaccines, something like 80+% that make it past Phase 2 end up making it past Phase 3. Its unlikely for most vaccines that make it that far to fail. We already have half a dozen candidates around the world at that point, with more on the way. If anything, its highly unlikely we won't find some kind of vaccine. If not one that grants sterilizing immunity, one that provides enough protection that it makes the disease far less deadly, like the flu vaccine.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

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Post by bart_spoon » Wed, Oct 14, 2020, 5:46 PM UTC

tootahe45 wrote: post #295

irrational wrote: post #244

Earlier quoted context omitted.

But those 100m are going to grow up in a world where remote working is the norm.

If remote was the best (most profitable) way to do things, companies would've figured this out well before COVID.

This assumes that companies are always operating in a maximally efficient way. Anyone who has worked in a corporate setting, particularly for a large corporation, knows this is never the case. Far too often, things are done one way because that's the way its always been done.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

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Post by Bayart » Wed, Oct 14, 2020, 6:14 PM UTC

Daishiman wrote: post #604

Bayart wrote: post #576

Earlier quoted context omitted.

Being in rural France, I like trying some new foreign cuisine once in while as much as anybody else, but it wouldn't come to my mind to make it my daily routine. Going out of your way to not eat local stuff is completely pointless to me. People take quite a lot of pride in having good stuff specific to their area.

In the Bay Area you can get, in the same weekend, excellent Vietnamese, excellent Peruvian, and excellent patisserie. The ingredients are sourced locally for the most part, and the imports are about as good as they can get, and substitutions are sober.

The Bay Area is three or four times the size my département. It could be a country. I don't even walk more than five minutes to buy all I eat...

It's hard to share scales with Americans.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#615

Post by ulisesrmzroche » Wed, Oct 14, 2020, 6:16 PM UTC

thu2111 wrote: post #574

ulisesrmzroche wrote: post #477

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Yeah, I’ll add that demand hasn’t gone anywhere, in fact, it’s higher than ever. When things fully reopen there’s gonna be a sort of boom in entertainment/restaurant/travel industry

I think there's an implicit assumption here that there will be a definite end date to this. I really hope there is, but there's another possibility that looks more likely as time goes on: lockdown has permanently broken the brains of some types of political leader and they will in fact never fully release the restrictions. Places like SF and NY will have long term restrictions lasting years, justified in the name of…

Yeah sometimes I think that too. I just don't think people will put up with it. They'll vote in anti lockdown politicians. I hope so anyway.

If trump wins, then who knows.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#616

Post by eagsalazar2 » Wed, Oct 14, 2020, 6:34 PM UTC

bumby wrote: post #198

eagsalazar2 wrote: post #102

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SF is great (really, just stop it haters!) and there will always be people who want to live there and prices will always be relatively high. However, for a long time SF has been a place of extreme price distortion because of low (~no) new construction and huge concentration of high paying jobs. The result is many many people feeling trapped there way beyond where it makes sense for their lives. If you are single and…

I’m curious as someone who has never lived in SV (only visited for work) but do you feel like there are certain areas that displaced SV gravitate towards and would eventually cause property in those areas to rise as well?

Tahoe, SLC, Portland, Austin, Minneapolis. It is only in part about moving somewhere awesome. A lot of people I know are just moving home to where their parents live. So lots of places.

For us, a lot of our family actually is in SF or Seattle. We're a skiing/biking family and I need to be in SF pretty regularly (but not daily) so SLC was the obvious choice. Portland was a candidate because it also has short flights to SF but I figured if we were going to move I wanted world class skiing and biking, in my backdoor, not just decent skiing 1.5hrs away.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

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Post by stouset » Wed, Oct 14, 2020, 6:56 PM UTC

toomuchtodo wrote: post #124

mxcrossb wrote: post #115

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This is the mindset I really don’t understand though. Sure your company can say “we’re all remote” today, but they can just as easily say “everyone has to come back” in six months. Or “everyone doesn’t have to, but those who don’t are the first laid off next time”. I’ve been fully remote since March, so I’ve been weighing this for awhile”

Many companies have publicly stated they will allow permanent work from home [1]. Many others have said so privately to their workers. As more companies adopt this, this provides more options to those who relocate and whose employer tries to pull them back. Keep a long runway in an emergency fund, keep your professional network warm, always be ready to bounce if your employer tries to change your quality of life for…

And when you decide to leave your current company?

Certainly I believe that remote work was already on the way to becoming more and more accepted, but by moving out you're still limiting your employment prospects to those companies that decide not to focus more on in-person roles. Maybe that will still work out in the long-run, but I still think there's significant long-term financial benefit in maximizing your number of potential employers.

Plus, if you're expecting to move back to San Francisco at some point, right now is the time to do it while prices are through the floor. You're far better off moving in right now at a 35% discount—which is permanent given rent control—than trying to come back in another year when COVID-19 is (hopefully) over and people are flooding back in.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

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Post by whimsicalism » Wed, Oct 14, 2020, 7:11 PM UTC

mywittyname wrote: post #594

whimsicalism wrote: post #270

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You're confusing a few things. Because SF (until recently) has disproportionately been a sellers market, leases are written such that they benefit the landlord. Buyout clauses are not symmetric and are uncommon in SF. In the context you described, both the tenant and the landlord have incentives: the landlord wants to pay you to break the lease so they can charge higher prices, the tenant might want to accept the mon…

> You're confusing a few things. Because SF (until recently) has disproportionately been a sellers market, leases are written such that they benefit the landlord. Right, which is why it makes sense that landlords would allow tenants to break leases for a fee. The landlord gets two/three months of rent from the current tenant, plus they have a waiting list of people and will have the unit moved into within a few days…

> So the benefits to the landlord is more money.

Here's the difference: the landlord can already choose release you from your lease if you pay a fee, there doesn't have to be a clause about that.

Adding a clause to the lease forces the landlord to let you leave if you pay the money, which in situations like this can hurt the landlord quite a bit.

So there's really no upside and only a downside. The only time you'd need to include a clause like that is to make the lease more attractive, which in SF until recently has not been necessary.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#619

Post by juniper_strong » Wed, Oct 14, 2020, 7:26 PM UTC

lukeschlather wrote: post #591

juniper_strong wrote: post #451

Earlier quoted context omitted.

Have you made your last friend or could you make different ones if you moved somewhere else?

Moving to a rural area is even worse. In principle I can maintain friendships with people separated by any distance from me, but there's no substitute for being in a highly populated area in terms of making new friends. And the more highly populated the better.

I think the last friend I made by first meeting them in person was in the early 90's - people I knew from my home town.

Every one since then was someone I knew online for many years first.

Re: San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

#620

Post by juniper_strong » Wed, Oct 14, 2020, 8:00 PM UTC

rgbrenner wrote: post #262

irrational wrote: post #244

Earlier quoted context omitted.

But those 100m are going to grow up in a world where remote working is the norm.

Even during the lockdowns only 40% of the US workforce worked from home. Here’s another stat: only 33% of the us population has a bachelors degree or higher. Step out of your bubble and think about all of the people making the goods you order, maintaining your roads, construction workers that fix your home, the workers at the grocery store, the person that delivers your packages, the warehouse workers, etc etc etc. T…

"only 40%"

Step out of your bubble and think about what it would mean if 40% of Americans worked from home full time.

It can be done, we've seen that, now people are running the numbers and seeing what that means. Pre-covid it was something like 3% that worked from home at least half the time.

If 3% turns into 40% - or even 20% or 6% - that starts to change things.