5 ms·

I don't think so. I don't live in SF but I'm sure it's a nice place to live. There's still a lot going on there, like universities, food, diversity, etc. Rent a

I don't think so. I don't live in SF but I'm sure it's a nice place to live. There's still a lot going on there, like universities, food, diversity, etc. Rent and house prices in the city are likely to go down, which is a good thing given how insanely expensive it is right now. Long term it might be even good for the city.

almost_usual 6y ago
The tax deficit for this year is going to really hurt the city. SF makes most of its income in tourism and tech. There isn’t much travel right now and there is a tech exodus. So the deficit is growing everyday. Bars and restaurants have been either on strict lockdown or reduced capacity since early March, a lot of them that have been around for decades are closing. So now we have an exodus of small businesses, tech workers, and reduced tourism. The city will have to convince tech workers and small business owners to come back while they probably increase taxes to work off the deficit. The lack of small businesses and increase in squalor will impact tourism even after COVID and the longer COVID goes on the more damage there is. I don’t see the SF govt cutting expenses until it’s absolutely necessary. Overall it seems like an uphill battle. I feel really bad for the small business owners in SF who are likely never going to recover from this.
- tinyhouse 6y ago
  That's not a SF only problem. All major cities (NYC, Amsterdam, Paris, etc etc) suffer from reduced tourism and tax money. There's no question that a city like SF would suffer more than many other cities given high percentage of its tourism is business travel. But the city still has a lot going for it besides tech. And at least FAANG for the most part will still attract many people to the area as the majority of them are not going fully remote yet. The city can also try to attract more diverse industries such as pharma companies that still require office space. They can also increase property taxes for a few years if they need to. Yes, SF as the center of tech as we know it is probably dead, but it doesn't mean the city is dead.

almost_usual 6y ago

The tax deficit for this year is going to really hurt the city. SF makes most of its income in tourism and tech. There isn’t much travel right now and there is a tech exodus. So the deficit is growing everyday. Bars and restaurants have been either on strict lockdown or reduced capacity since early March, a lot of them that have been around for decades are closing. So now we have an exodus of small businesses, tech workers, and reduced tourism. The city will have to convince tech workers and small business owners to come back while they probably increase taxes to work off the deficit. The lack of small businesses and increase in squalor will impact tourism even after COVID and the longer COVID goes on the more damage there is. I don’t see the SF govt cutting expenses until it’s absolutely necessary. Overall it seems like an uphill battle. I feel really bad for the small business owners in SF who are likely never going to recover from this.

tinyhouse 6y ago
That's not a SF only problem. All major cities (NYC, Amsterdam, Paris, etc etc) suffer from reduced tourism and tax money. There's no question that a city like SF would suffer more than many other cities given high percentage of its tourism is business travel. But the city still has a lot going for it besides tech. And at least FAANG for the most part will still attract many people to the area as the majority of them are not going fully remote yet. The city can also try to attract more diverse industries such as pharma companies that still require office space. They can also increase property taxes for a few years if they need to. Yes, SF as the center of tech as we know it is probably dead, but it doesn't mean the city is dead.