“Ditch the Doorman for the Cul-de-Sac”

[scaredyclassic]

You wouldnt have wanted it pregentrification, or during gentrification either. So basically you, and no one wants to live near poor people.

Which is fine.

Me either.

But wait. I thought you said at one point all these protestors, fake, flown in temporarily, a potemkin village.

Shouldnt affect values either way in that case

[svelte]

me, i like it here in the burbs jezz chillin and relaxin

[The-Shoveler]

Me too,

Glad I don’t live in or really near the Major city centers, could be a wild November, I guess we will see.

[scaredyclassic]

Personally i cannot stand dense humanity, whether they are happy or protesting, theyre gross in large numbers.

[The-Shoveler]

San Francisco’s mass exodus: Twice as many homes are for sale compared to last year as people look to leave the city

https://www.yahoo.com/news/san-franciscos-mass-exodus-twice-204700238.html

Seems Burbs are back in style LOL. (never were out IMO)

[spdrun]

2 * $very_tiny_number is still a very tiny number

[The-Shoveler]

IMO its a lot of factors leading to burbs IMO,

Its just time as well the average age of Millennials is about 32

time to move out of that one bedroom

[sdrealtor]

FWIW the Bay Area has been in decline for about a year. Friends sold their place in Silicon Valley last May. They closed in 30 days and had a free 45 day rent back. When they moved out their agent told them that they would get hundreds of thousands less just 60 days later.

I had a friend whose home I managed as a rental around the corner. He moved to San Jose and kept this house as he never expected to be able to buy a home up there as everything was always multiple offers mostly cash. In March he called and said with COVID the market seemed slower and he thought he could buy up there. We got his place sold here quickly for a record price with a tenant in place and sight unseen. It was a crazy transaction but we got it done. He bought a wonderful place up that he never would have gotten pre-COVID.

[svelte]

[quote=svelte]

I wonder how all of this work-from-home is impacting the planned redesign of Horton Plaza into tech office space. Seems like terrible timing…HP can’t seem to catch a break.[/quote]

Horton Plaza may be okay. Just ran across this article this morning:

https://www.sandiegouniontribune.com/business/story/2020-08-18/amazon-says-it-will-hire-an-additional-200-workers-at-san-diego-tech-hub

“While office space leased by tech companies declined 46 percent nationwide last quarter, San Diego was one of only three cities — along with Washington, D.C., and Atlanta — to see an increase in tech office demand, according to commercial brokerage CBRE. San Diego generated 365,000 square feet of tech leases in the quarter, up 58 percent from its 2019 quarterly average.”

[Coronita]

https://www.sandiegouniontribune.com/business/story/2020-08-24/bay-area-couple-priced-out-and-working-remotely-buy-san-diego-house-instead

Come to think about this, I did this similarly in the early 2000’s. I moved down here and was working for a company headquartered in the bay area, making bay area comparable inccome.

[The-Shoveler]

Seems to be happening enough to have an effect.

San Francisco sees record-breaking drop in rent prices amid pandemic, according to Zumper data

https://abc7news.com/san-francisco-rent-median-drop-covid-19/6288920/

Probably the shift to remote working more than anything else, Our company just announced that they are permanently closing some offices and shifting to remote working for those locations (no one was laid off). Just guessing but I think we will be saving several million a year doing that.
Seems each time an office lease expires they just go remote, We will still need our facility as we have the manufacturing and lab space requirements.

Even in our facility most workers are expected to remain remote until at least next January, then they will re-evaluate the situation.

[Coronita]

[quote=The-Shoveler]Seems to be happening enough to have an effect.

San Francisco sees record-breaking drop in rent prices amid pandemic, according to Zumper data

https://abc7news.com/san-francisco-rent-median-drop-covid-19/6288920/

Probably the shift to remote working more than anything else, Our company just announced that they are permanently closing some offices and shifting to remote working for those locations (no one was laid off). Just guessing but I think we will be saving several million a year doing that.
Seems each time an office lease expires they just go remote, We will still need our facility as we have the manufacturing and lab space requirements.

Even in our facility most workers are expected to remain remote until at least next January, then they will re-evaluate the situation.[/quote]

Yup. Commercial REITs are really screwed.

[spdrun]

One thing that doesn’t make sense — pre-pandemic, people were living in SF by choice and often reverse commuting 2 hr to the South Bay. They were in SF because they wanted to be in SF, even though they could have found more space/cheaper housing closer to work. Once most of SF is reopened, won’t people still be attracted to the same things that made them want to live in SF, whether they WFH full-time or go to the office a few days per week?

[The-Shoveler]

SF is not the same place it was 10 years ago neither are the people, at 22 a one bedroom is fine, 32 it starts to not be that great.

[spdrun]

^^^

That assumes that the same people stay in a city forever, which isn’t the case. Historically, young people moved in, oldies who wanted to settle and become breeders moved out.

[Author]

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