Quote:
Originally Posted by Obadno
"San Francisco isnt failing I promise!!!!!!"
 I work with many San Francisco Landlords and they can't get their buildings filled.
This article may be correct but I doubt its telling the whole or accurate story
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I remember 2000-2003. All the recent grads with tech jobs moved back home or somewhere else then too. By the mid-2000s they were coming back.
San Francisco has been like this for a long time--highly cyclical. This time is different in 2 ways that I can see: (1) The city's "other" big economic engine, tourism and hospitality (hotels, fine dining) is in worse shape than tech and (2) all the attractions of city living are gone, not just the jobs.
But it will all come back. When COVID is beaten, and it will be like every epidemic/pandemic in history has been, tourism, dining, art and culture, sports, entertainment and night life will come back and the city will be "fun" again and people, including probably some who moved elsewhere in CA, will want to live in it. The younger ones especially won't want to live in the city just for a short commute so I don't think it matters as much as some think whether they can work from home a large part of the time or not; but I also think they will be expected to show up in the office maybe half the time so the cummute will still matter.
Those unfilled buildings will fill up, just like the "Richmond Special" condos in SOMA that lingered unsold for a year or two in the early 2000s eventually sold for higher and higher prices (this time rentals may be more severely effected because of the tremendous loss of lower wage service jobs in the hospitality industry).