4 ms·
None of the people elected at the local level have any interest in making the city better for everyone. They have their coalition that is large enough to ensure
by atdrummond 4y ago
None of the people elected at the local level have any interest in making the city better for everyone. They have their coalition that is large enough to ensure their continued re-election and their terms are served by parceling out sufficient benefits to said coalition partners to guarantee their ongoing support.
They now act bewildered that, like Portland, their downtown is dead and shows no sign of improvement in the near term. As the tax base continues to collapse and more pressure is put on existing homeowners/residents, it’ll be interesting to see how the resulting cost of living crisis impacts these coalitions. I suspect things get far, far worse before they get any better.
- 29athrowaway 4y agoIf learned helplessness was a city, it would be San Francisco. Public defecation, car break-ins, littering, homelessness, people shooting drugs, needles everywhere, junkies talking gibberish and yelling to hallucinations, etc. What's the point of paying a fortune to live like that?
- 8f2ab37a-ed6c 4y ago[flagged]
- searealist 4y agoJust 5 days ago from you: > And good luck not having your bikes get regularly stolen in places like SF or NYC. You better ride the most revolting beater you can find, and even then. If you don't want your bike stolen, then please leave SF.
- VectorLock 4y agoAnd yet still has some of the highest property values in the country. Curious.
- CamperBob2 4y agoLet's see how those values hold up through the cycle of hiring freezes and layoffs that's just getting started. I suspect (but can't prove) that commercial real estate is a leading indicator of what to expect in the housing market. We'll see.
- dopeboy 4y agoI have no horse in the race as I rent in the east bay. This just isn't going to happen. If anything, the declining commercial real estate is going to push up home values further because people want better WFH setups.
- CamperBob2 4y agoWhatever you can buy in SF will be 2x as nice for 0.5x the money if you buy it elsewhere, though. There is no need to live in the metro area if you WFH. That's just one factor that wasn't in play in 2000 and 2008.
- VectorLock 4y agoMy personal opinion is this cycle of "hiring freezes and layoffs" will be minuscule compared to 2000, or 2008, and even those didn't bring SF prices back to rationality. Geological and socioeconomic realities will always keep SF propped up.
- somenameforme 4y agoThere's a lot of high paying jobs. Demand for those jobs drives up demand for local properties. Costs increase accordingly. You can also look at it from the supply side. Imagine local property costs were not high, and you were at said high paying job. It'd be perfectly logical to start accumulating said properties either as a long-term investment, or to just rent out as a passive[ish] income. And up go costs.
- deleted 4y ago[deleted]