Earlier quoted context omitted.
I am very over getting together in people’s open plan kitchen + living/family/dining room homes and being unable to have a conversation because 10 people’s voices are bouncing around one room with 10ft ceilings when there is enough space for 2 or even 3 separate rooms. And the TV volume is on for some reason. And the exhaust above the stove is on. And the kitchen faucet is running.
A lot of those conversations could have been just an email.
San Francisco braces for commercial real estate crash
261–270 of 622 posts
Re: San Francisco braces for commercial real estate crash
#262Give the corresponding housing crisis in the Bay Area, one wonders if the solution is to "simply" start converting office space to living space until the corresponding demand for office space recovers from a combination of increased demand and decreased supply. Now I'm sure there are all kinds of challenges to doing that, engineering, zoning, other practicalities, but it seems overall reasonable to me, though perhaps…
Most offices have physical layouts that make conversion to residential difficult to impossible. Big things like lots of interior square footage without windows and plumbing only to a few central locations. And while some or even most of this is fixable, major renovations are a ton of cost and effort to convert them to something that will still be expensive and weird, if even possible to meet the legal requirements of…
Re: San Francisco braces for commercial real estate crash
#263Earlier quoted context omitted.
Linked from the article, the Urban Displacement Project's recovery ranking dashboards [1] place San Francisco dead last amongst 60 major North American cities. [1] https://www.downtownrecovery.com/dashboards/recovery_ranking...
Whoa, not only last, but last by a long shot. Most of the cities toward the bottom in that list are in the lower 50s and upper 40s. Then you have the bottom 3—Portland at 41%, Cleveland at 36% and San Francisco at 31%. That's quite a drop off.
Re: San Francisco braces for commercial real estate crash
#264Earlier quoted context omitted.
Money goes to where it's treated best and people vote with their feet. I know people thumb their nose on the state, but Florida is open for business. But the real secret is Puerto Rico and their incredible tax incentives for software companies.
The real real secret is Portugal, can't beat 10 years tax-free on foreign income.
Re: San Francisco braces for commercial real estate crash
#265Earlier quoted context omitted.
You think drug use doesn't lead to crime?
What crimes will drug users commit if drugs are legally available like alcohol?
Not all drugs are equal. You can't drink your way into effectively schizophrenia, but you can get there in no time with the currently available super-potent variety of meth. Some drugs completely wreck your ability to live in a way compatible with holding down a job, which means that you'll pretty quickly have to turn to crime if you want to keep doing them.
Re: San Francisco braces for commercial real estate crash
#266for added consternation, check out "Millennium Tower" https://en.wikipedia.org/wiki/Millennium_Tower_(San_Francisc...
Re: San Francisco braces for commercial real estate crash
#267Earlier quoted context omitted.
> city officials are asleep at the wheel Eh, San Francisco's voters have been drinking crazy water for some time. New developments blocked by renters. Stringent building codes and environmental reviews defended by those who think they're being compassionate to the poor. Scolding tech companies for hiring in the city and then panicking when they stop hiring in the city. This obviously isn't all of them. But it's not l…
Yea, people love blaming (elected) city officials but NIMBYism and "Housing is an investment that should only go up in price" will eventually kill any market.
Re: San Francisco braces for commercial real estate crash
#268Companies will force their employees back in person. Already seeing it happen. Companies will have power to do this in a downturn.
To what benefit though? Surely they're not better off by having to pay power/water costs in the office when people come back, right?
Seeing this here at my work. Everyone good left. Talking about technically excellent peer leaders making 180k but providing millions in value.
Re: San Francisco braces for commercial real estate crash
#269Earlier quoted context omitted.
> Crime is rampant According to the data, crime in SF is lower that it was a few years ago: https://www.city-data.com/crime/crime-San-Francisco-Californ... > Drug use and filth is everywhere. Voters can’t seem to wrap their head around better housing policies to get people off the street. It’s disappointing, the entire Bay Area is guilty of this.
This delusion that if only we build houses, the homeless, mentally ill and drug addicted will magically disappear from the streets...is based on what exactly? What does "housing policy" mean in the context of streets lined with tent cities filled with drug addicts?
Re: San Francisco braces for commercial real estate crash
#270You would have to be stark raving mad to open a business in San Francisco. Not only is the downtown filthy and unsafe, but the government, when it can stir itself from its torpid incompetence, is absolutely malevolent towards businesses.
> but the government ... is absolutely malevolent towards businesses. How so?
San Francisco stands out among American cities for many reasons, and this ridiculous system is sadly one of them.
In Yu’s case, the complaining neighbor was a competing ice cream shop. It doesn’t take a genius to see why that shop might gripe, but nevertheless Yu had to hire a lawyer and wait until the hearing on June 11 to do any more work on his shop."
https://www.sfchronicle.com/bayarea/heatherknight/article/Bi...