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So, developer tried to jump into the insanely hot condo market of 2018/2019 where foreign investors would buy up units and rent them out to people in tech. Pan
by jarjoura 3y ago
So, developer tried to jump into the insanely hot condo market of 2018/2019 where foreign investors would buy up units and rent them out to people in tech.
Pandemic happened, and interest rates shot up. Looks like timing is everything, and it wasn't really SF's fault.
- olliej 3y agoNah, it's really important that we blame the SF governance (which has plenty of issues) for the poor planning and failure to accept basic capitalism of a for-profit condo company. Seriously this is basic capitalism: if your customers/tenants all work for one industry, and that industry craters and lays them all off, you aren't going to have customers/tenants any more - and the local government can't control that. [Blaming SF's governance for literally everything as if it controls many of the companies based in SF collapsing because they were poorly run and/or poorly conceived failing and leaving is the only thing that passes muster in HN comments :D]