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Nearly 12M Square Feet of Vacant Office Space in S.F

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Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#501
post #358

Earlier quoted context omitted.

When I read about them moving to states like Texas in numbers, all I can think is that they will inevitably try to take these same policies with them when they find out wherever they moved too isn't quite liberal enough

I don't know, but my guess is the people that moved didn't like the policies of the state they left

When a Californian leaves for Texas, the average intelligence in both states goes up.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#502

Earlier quoted context omitted.

> As with everything else in a capilistic economy: because there is profit to be made. As someone who lives in Toronto, Canada where there's a lot of condo construction, and little-to-no purpose-built rental construction, the "capitalist economy" has decided that rentals are generally not worth it. At least when it comes to builders: plenty of people are buying condos and renting them out instead of living in them, b…

I think you are missing the point: if there is "little-to-no purpose-built rental construction" I guarantee it's because of laws and regulations preventing companies from fulfilling demand. Think whether people or companies can purchase any land and build whatever they want on it. No they can, local governments must zone it as residential, and then they usually have strict restrictions on how many units can be built…

Also consider financing. Buying a home for owner-occupancy is often subsidized while purchase for an investment property (rental) is not. I don't think this is wrong, but certainly the incentives shape the market.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#503
post #131
post #87

Earlier quoted context omitted.

I agree, linguistically that comment borders on gibberish.

Please don't be rude in comments here, and please don't pile on. digitaltrees' reply gives vmception a nice invitation to expand, which would benefit all of us. Swipes like the one in your comment unfortunately have the opposite effect on conversation. https://news.ycombinator.com/newsguidelines.html

@dang Transfer me your super powers.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#504

Earlier quoted context omitted.

It depends, and whilst San Francisco can’t be compared to Harlow there can be some tragic ramifications: https://www.bbc.co.uk/news/uk-england-essex-47720887

Who in their right mind calls anything "Terminus"!? Outside of the a hipster morgue that is not an appropriate name. The building looks and was named straight out of judge dredd.

Terminus is one of the first names of the city now known as Atlanta.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#505

Earlier quoted context omitted.

That’s an interesting observation that’s normally only made about political affiliations. I wonder if there is precedent with the migration out of NYC and the like in the post-WWII/mid Century period. It was a real boom time for the West...California in particular. A lot of folks came from back East or the Midwest... Not many tried to explicitly recreate their East Coast/Midwest life in the West...in fact they made a…

haha.... here you are posting on a California based website/forum, and pretty much use California based products without even knowing (facebook, reddit, google, youtube, iPhone, Android, Macs), they are all California culture, in digital form. CA, like it or not, has an outsized influence to the whole world, to the point that it kinda becomes 'undistinguishable' as it is everywhere. I am talking about tech/SF/SV and…

Haha... What is California culture in digital form? I remember being 16 and posting this rant but substituting "USA" for "California". Gotta make sure everyone knows my group is the best!

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#506
post #352

Earlier quoted context omitted.

I fear this is exaggeration. San Francisco has a few nice restaurants; but many, more affordable cities do just as well or better. The problem facing SF restaurants is the economics: it's so difficult to afford a place to live there, that kitchen staff definitely can not afford to do it. Combined with the relatively poor access story -- it's surrounded on 3 sides by water -- it means the core staffers have to be recr…

You’re right what counts as “nice restaurant” depends a lot on perspective. So here’s some perspective: My entire home country has 6 Michelin star restaurants. Of those, 1 is in the capital which is the home town I’m comparing above. SF has 7 restaurants with 3 stars.

Whether that means you're eating better food on a regular basis in SF than in many other less dense urban areas in the USA (nearly all are less dense) is a different question, though: and the truth is, you're not.

Places with stars don't have the economic situation I discussed: they have the money to really go beyond their surroundings.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#507

Earlier quoted context omitted.

> As with everything else in a capilistic economy: because there is profit to be made. As someone who lives in Toronto, Canada where there's a lot of condo construction, and little-to-no purpose-built rental construction, the "capitalist economy" has decided that rentals are generally not worth it. At least when it comes to builders: plenty of people are buying condos and renting them out instead of living in them, b…

I think you are missing the point: if there is "little-to-no purpose-built rental construction" I guarantee it's because of laws and regulations preventing companies from fulfilling demand. Think whether people or companies can purchase any land and build whatever they want on it. No they can, local governments must zone it as residential, and then they usually have strict restrictions on how many units can be built…

> No they can, local governments must zone it as residential, and then they usually have strict restrictions on how many units can be built on each area, licenses, permissions, building codes...

Which are exactly the same for condo or apartment.

The reasons are economic AFAICT:

> For a long time, the economics of constructing a rental made little sense compared to a condo. Condo builders get a significant portion of their financing directly from future unit owners, who give hefty deposits to secure their spot and therefore assume some of the risk. Rental landlords, on the other hand, need to front the majority of the equity, assuming all the risk themselves. When a condo building is complete and all the units have been sold and paid for, the developers quickly reap the returns on their investment and move on. For a rental building, the returns take many, many years longer.

* https://nationalpost.com/life/homes/is-this-rare-new-rental-...

Toronto has had vacancy rates A good number of rental buildings are actually being constructed in partnership with insurance and pension funds, as they need long term cash flows and baby boomers aren't getting any younger.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#509

Earlier quoted context omitted.

Between the socialists years, 2006-2010 they've spent so much in consume programs that we will be paying for that many years. We're lucky that we have euro, but the proof is unemployment is hight as crazy every year and there are no signs of investement. People also changed mindset from savings to spendings, and now they are demanding more money from the goverment for anything. Please check also Chile, they had coupl…

That's a weird argument, given that they appear to have run a primary surplus in those years: https://tradingeconomics.com/spain/government-budget I agree that there was a massive mal-investment in much of the Eurozone post 2002 (I'm irish and remember this well), but I don't really see how this maps to socialism/socialists. Can you clarify?

It is not. During Zapatero's we had the worst crisis ever, now we have covid's and Sanchez ruling agenda: money spent on gender, progresive things and not in real infraestructure. There's a sort of basic income done, and it is not even working.

Re: Nearly 12M Square Feet of Vacant Office Space in S.F

#510
post #352

Earlier quoted context omitted.

You’re right what counts as “nice restaurant” depends a lot on perspective. So here’s some perspective: My entire home country has 6 Michelin star restaurants. Of those, 1 is in the capital which is the home town I’m comparing above. SF has 7 restaurants with 3 stars.

Whether that means you're eating better food on a regular basis in SF than in many other less dense urban areas in the USA (nearly all are less dense) is a different question, though: and the truth is, you're not. Places with stars don't have the economic situation I discussed: they have the money to really go beyond their surroundings.

The thrust of my argument is that there’s more of everything in a bigger city. As such you have more options and more competition.

The competition means that a lot of places scraping by in smaller cities can’t make it in a bigger city. In theory that means median quality is higher.

And even a 3-star restaurant won’t survive in a place that doesn’t get enough well-to-do visitors to sustain it.

For a more casual perspective, SF has 126 restaurants on the Michelin list (not all hve stars). My entire home country has 52.

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