by Patrick ➕follow (61) 💰tip ignore
« First « Previous Comments 867 - 906 of 1,037 Next » Last » Search these comments
https://x.com/zerohedge/status/1731440708463030756?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
https://x.com/zerohedge/status/1731440708463030756?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
San Francisco Office Vacancies Reach 35%, Breaking New Record
City is ‘getting so close to hitting bedrock’
According to a new study released on Friday, San Francisco’s office vacancy rate hit a new high of 35% in December, climbing up from 29.4% earlier this year as the economic situation in San Francisco continues to get worse.
Before the COVID-19 pandemic, San Francisco had a near 100% office occupation rate throughout the city, thanks in large part to the continuing tech boom and a steady demand for office space. However, with the pandemic, many companies began breaking leases to save money, while others embraced stay-at-home work and declined to continue using office space. Even after restrictions were dropped in 2021 and 2022, more companies switched to a work-from-home model or allowed more work-from-home positions, keeping many companies from returning to offices. In addition, high crime rates as well as a growing number of lease expirations by non-returning companies helped keep vacancy rates well above 20%.
In 2022 however, another major factor spiked vacancy rates yet again. Mass layoffs in the tech industry, which began in earnest in October 2022, quickly wiped out the need for large office complexes and long-term leases. Fueled by economic uncertainty, high inflation, rising insurance costs, more people working from home, the rise of AI and automation, the continued rise of e-commerce, and many companies overcompensating, many large companies shed thousands of employees overnight. Tens of thousands of cuts came from longtime Silicon Valley stalwarts Google, Amazon, Intel, Lyft, Yahoo, Meta and Salesforce, with the second quarter of 2023 even producing many corporate, non-tech layoffs for companies in the city as well.
In 2022 however, another major factor spiked vacancy rates yet again. Mass layoffs in the tech industry,
Half Off: Another San Francisco Office Trades For 50% Discount
4 Cars Set on Fire in San Francisco’s Bernal Heights, Rattling Residents
I thought it was a skit but turns out this was a real San Francisco board meeting
A journalist has shared alarming images of a once-prominent street that's been rocked by store closures in San Francisco.
One snap, taken in the heart of the city's famed shopping district, shows tourists wandering down a gutted Powell Street.
But instead of being graced with an array of shops, cafés, bars, and restaurants, the party is seen encountering countless shuttered storefronts.
More shots from Erica Sandberg show more of the same, and how the thoroughfare that runs adjacent to the city's Downtown, all the way from Market to Fisherman's Wharf, has become a shell of its former self.
San Francisco in a ‘Tough Spot’ as $1.4B Budget Deficit Looms
San Francisco in a ‘Tough Spot’ as $1.4B Budget Deficit Looms
https://sfstandard.com/2024/01/17/san-francisco-budget-deficit-1-4-billion-cuts-london-breed/
San Francisco in a ‘Tough Spot’ as $1.4B Budget Deficit Looms
raise taxes or austerity
raise taxes or austerity
Bay area is so bad I move there for any price. Weather is the only reason it hasn't turned into a Detroit.
https://wolfstreet.com/2024/01/21/status-of-the-housing-bust-in-san-francisco-lowest-price-for-any-december-since-2017-2019-silicon-valley-and-the-bay-area/
All that money is paid to grifters for their political support, and to expand the homeless population to justify yet further increased funding.
Here’s How Long It Took To Buy Locked Up Basic Items in San Francisco Stores ...
Aisle 10 inside the Safeway at Market and Church streets is lined with gleaming, locked acrylic cases stocked with everything from toothpaste and hand soap to sunscreen and K-Y Jelly.
But you can’t just go up to the shelf and grab what you want; you need to press a button to summon an associate to unlock the case. What’s more, the employee won’t even give the item to you. The staffer must put it in a basket and bring it to the register, lest you waltz out the door without paying.
Before I could press said button, a local resident named Danielle did. She and I waited three minutes and 31 seconds for our toothpaste, at which point a worker came over and hurriedly pulled two tubes of Crest off the shelf, put them in a shopping basket and walked away. ...
Two minutes and 34 seconds elapsed before a worker retrieved a bottle of Johnnie Walker Red for me. ...
Stores should go back to clerk-behind-counter model. You pay - you get your toothpaste.
« First « Previous Comments 867 - 906 of 1,037 Next » Last » Search these comments
patrick.net
An Antidote to Corporate Media
1,257,775 comments by 15,008 users - AmericanKulak online now