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White liberal billionaires and the Blackrock's may buy up cheap commercial RE in San Fran, and then force a positive change within the local government which will lead to increases in property values.
That is true for universal suffrage. It would be a different story if voting was limited to net tax payers. That is, only people who pay more in than they consume are allowed to vote. That would remove military members, government workers, defense industry contactors, welfare recipients, and SS retirees from the voter rolls.
out illegals in the process.
Bought for $949M, 2 San Francisco offices have been marked down to zero ...
The owner of two iconic San Francisco office properties is likely to give them up as major tenants pull out and the final due date for debt payments draws nearer, according to an earnings call with the New York real estate firm the Paramount Group.
One of the properties is known as the Market Center, a 770,000-square-foot brutalist office complex split across two buildings at 555 and 575 Market St. in the middle of the Financial District. The complex used to serve as the headquarters for Standard Oil and Chevron.
The other is a neo-gothic structure a block away at 111 Sutter St. that was the fictional address of private detective Sam Spade’s office in the noir novel The Maltese Falcon, which in 1941 was made into a classic film starring Humphrey Bogart.
Paramount executives said in the Feb. 15 earnings call that they are in negotiations with their lenders on the two properties, but both investments have already been marked down to zero on company books. Executives say debt on the buildings far exceeds their current market value.
State Farm's California exit could cause headache for Bay Area home, business owners
State Farm Insurance's decision last week to cease accepting new applications — including all business and personal lines property and casualty insurance — has potential consequences for both homebuyers and small business owners in the Bay Area.
The company — the largest property and casualty insurance provider in the state as of 2021 — said it was necessary to take the actions now to improve the its financial strength. But it could spell trouble for some local real estate transactions by limiting the buyer pool in heavily wooded areas. Buyers getting a mortgage typically are required to have insurance that covers losses from fire, and brokers have said this had already gotten more difficult before State Farm's announcement.
and brokers have said this had already gotten more difficult before State Farm's announcement.
The Empty Storefronts of Downtown San Francisco
San Francisco vacancy ‘is probably worse than 37% right now’
Many illegals use real tax ids of actual citizens.
'San Francisco has lost some of its appeal post-pandemic. A lot of tech employers and big-name retailers have moved out of the city, and some of my clients have reported they're leaving the area because they don't feel as safe as they used to.'
San Francisco's Westfield, once a thriving mall home to the largest Nordstrom in America in the city's downtown area, is now a shell of its former self after a string of departures from big-name stores.
Occupancy was at a measly 25 percent in January, and staff and shoppers told DailyMail.com how they were left 'scared' by 'rising crime, drug-taking and homelessness' in the area.
You know, it's very much like the vaxx thing. Most people who took it refuse to believe that it's really as bad as it provably is.
Yes, that article was sent to me by someone I know here, for example.
But he rents, like I do. People who own a house never mention the downtrend around here. The psychology is amazingly consistent that way.
My hood prices dropped around 200k then bounced back up rather quickly. The cash is out there in somebody's' pockets, interest rates be damned.
At the rate things are going, the Asians will probably make us a neighborhood Caucasian museum and throw peanuts and bananas at us. That, and surrounded by inheritors.
Crime-Ridden San Francisco Wants To Punish Grocery Stores For Fleeing Said Crime
Unpunished crime is so out of control in San Francisco that the city now wants to punish grocery stores who want to leave.
Under the 'Grocery Protection Act' introduced by city Board of Supervisors member Dean Preston (Democratic Socialist), stores that want to flee all the crime and other increased liabilities will have to provide the city with six months advanced notice, and make efforts to find a replacement supermarket for the location being vacated, Benzinga reports.
The move comes after While Foods shut down its flagship store in San Francisco after being open for just over a year, citing employee safety concerns.
The reports show how workers at the store were routinely threatened with weapons, while vagrants would throw food at staff, engage in fights, and even defecate on the floor.
One incident saw a homeless man with a knife spray an employee with a fire extinguisher.
...
There were also cases of drug overdoses with one man dying in the bathroom after overdosing on fentanyl and methamphetamine. Thefts were also common with large quantities of alcohol stolen from the store. -Daily Mail
Nearly 570 emergency calls were logged from the location, including one call with desperate pleas to the police saying "male [with] machete is back," and "another security guard was just assaulted." ...
Preston's proposal would allow anyone impacted by a noncompliant store closure to initiate legal proceedings.
As Benzinga further notes, "It’s not just grocery stores that have had enough of the city. Other large businesses that recently closed their downtown San Francisco locations include Adidas, AT&T Inc., Nordstrom and Lego Group."
Maybe start punishing crime?
How can you force a store to be open?
The San Fransisco Chronicle ran a shifty story yesterday breezily headlined “Thieves snatch Rep. Adam Schiff's luggage in S.F. He gives dinner speech without a suit.”
https://www.sfchronicle.com/bayarea/article/car-burglars-snatch-rep-adam-schiff-s-luggage-19424026.php
I’ve been turning it around in my head for hours, and I still can’t quite make the details work. According to the story, Schiff was in San Fransisco for a few days campaigning for the Senate. During that time he was keeping his clothes in his bags in his car in a San Fransisco parking garage.
Why change in the car? Wouldn’t it be more convenient to bring your bags into the hotel like a normal, non-reptilian homo sapien does? Here’s how the Chronicle described the story, you tell me. Maybe I’m missing something:
Thursday, thieves swiped the bags from his car while it sat in a downtown parking garage. Schiff’s car had been parked in the garage while he visited the area for a couple of days of appearances, which included a jaunt south to Burlingame for the dinner at Ristorante Rocca.
“Yes, they took my bags,” Schiff said calmly. “But I’m here to thank Joe.”
Yes, yes, thanks Joe. We get it. But still. What about those bags? Was Adam distrustful of the housekeeping staff? Were all his credit cards over the limit, and he was living out of the car waiting for Georgie Soros to send a new one? Where was he ironing his suits? In the car garage?
Let’s be honest. Was Adam thrown out of his hotel?
Wait! Were there any classified files in the bags??
But I digress. The point is, thanks to excessive liberal governance, sometimes also called “bad luck,” San Fransisco is looking a lot less “Golden” and a lot more like a third world you-know-what-hole. Schiff might be politically biased, but this story proves that at least the criminals in San Fransisco don’t discriminate.
Well. The independent criminals. The ones who don’t work for the government. Those ones aren’t biased.
Laughably, the Chronicle earnestly informed its gullible readers that car burglaries are down a whopping 35% just in the first three months of 2024. It was bad luck for Schiff. He must have run into some of the City’s few remaining burglars. And — 35%! What a law enforcement miracle! Or a reporting miracle, anyway.
But wait! There’s more.
Amidst the Golden State’s rapidly declining crime statistics, another prominent California political figure also encountered bad luck. On Wednesday, the day before Schiff’s garage pilfering, Politico ran the story under the headline, “Suspect arrested in break-in at Los Angeles Mayor Karen Bass’s home, police say.”
Around 6:40am Sunday, a burglar broke into the mayor’s official house, known as Getty Mansion, while Bass, her daughter, son-in-law and newborn grandson were all at home. You bet the police quickly caught a suspect. The suspect was upstanding LA city resident Ephraim Matthew Hunter, 29, who served 7 years at his previous address in Massachusetts for assault with a deadly weapon.
Maybe Matthew was just trying to pay a parking ticket and got confused? Well, it seems there might be more to the story than U.S. corporate media is reporting. The Daily Mail added the curious fact that Matthew tried to break into the bedroom while calling out the name of “one of the occupants.”
So … they knew each other.
During her term, Mayor Bass has helped push progressive policies across LA, including no-cash bail. But ironically, Matthew is being held on an astounding $100,000 bail. Have fun in the comments.
Also curiously, LAPD’s Interim Chief Dominic Choi said the break-in happened during a security shift change, so nobody was guarding the home at the time of incident.
Tone-deaf Politico predictably connected the Bass break-in to the wild October 2022 Pelosi break-in, back in San Francisco. Politico oddly wondered whether public officials are enjoying enough security.
It kind of had a point. Sunday's incident was the second time lately that Bass fell victim to a break-in. Back in 2022, while running for office, Mayor Bass experienced more bad luck when two men robbed a pair of handguns from her Baldwin Vista home.
But I don’t think the problem is security. Um, hello, Politico? It’s all well and good to give public officials private security armies, but what about the rest of us? Maybe a more probing question would be something about California’s crime wave?
I’m just asking.
Why is it so hard for them to recognize the real problem, which is literally smashing them in the head with a hammer?
Not sure what city, but all California cities are like that.
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