11–20 of 527 posts
A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).
We haven't even seen the extent of the depression yet. Combined with congressional inaction on social spending a lot of people are going to be in very deep finanical issues. This is a systemic problem that we needed fixed 3 months ago.
If this trend continues, I wonder if these office spaces can be converted to apartments. SF is in desperate need of living space
In other news, water is wet. Is it surprising to people who are working from home, that the office they used to work in and cannot yet return to is now vacant? People have been calling the collapse of San Francisco since the gold rush. It's clearly had its ups and downs, but the overall trend is clear too.
If this trend continues, I wonder if these office spaces can be converted to apartments. SF is in desperate need of living space
Ive been told in a lot if cases this is virtually impossible due to cost and structural constraints of office construction vs residential... notably ceiling heights, plumbing and floor plans are poorly designed for residential conversion.
A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).
Why will leases be terminating in Q2 2021 in particular?
If this trend continues, I wonder if these office spaces can be converted to apartments. SF is in desperate need of living space
We haven't even seen the extent of the depression yet. Combined with congressional inaction on social spending a lot of people are going to be in very deep finanical issues. This is a systemic problem that we needed fixed 3 months ago.
The lack of continued large-scale stimulus is tragic. We need a strong stimulus package with direct monetary relief (one $1200 check is not enough), and a program of structured financial relief / rent forgiveness. Unfortunately, I don't see it happening.
If this trend continues, I wonder if these office spaces can be converted to apartments. SF is in desperate need of living space
It's a temporary shift and things will balance out in a few years.