In the backdrop of the tragic George Floyd news, there's a big demographic trend happening in San Francisco
All this talk of people leaving SF for a future of remote work is now backed up by hard data
SF 1BR rents were
9.2% YoY in May via @Zumper
-
-
Yep fair. I'll say from personal experience, the emigration is real. Multiple friends who are SIP out of state have let their SF lease expire & and have come back to pack up. Admittedly anecdotal, but a non insignificant % will leave for good. First time this narrative is real
-
And yes your 1-3 yr timeline is wide enough to be sure that people will return and new grads still come. Also worth being clear that I don't think SF will become a ghost town. Far from it. But the imbalance of demand/supply will now soften, and some of this will be permanent
End of conversation
New conversation -
-
-
Yes and still not affordable. And let’s not forget that 97% of CA towns aren’t meeting RHNA targets so the statewide demand for housing remains. Flight to “rural” also complicated by WUI development / wildfires. Nothing is solved yet, just temp reshuffled for SOME people
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
How much could be explained by airbnb’s getting listed on the rental market and driving down prices? Combined with a hiring freeze by many big companies.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
One issue to consider is the ongoing civil unrest. If civil disobedience continues on and off through the summer, combined with a second COVID wave, there will likely be further pressure on housing costs. Businesses will struggle to reopen and many will close.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
I am not sure the City will ever be what it was in terms of pre-coronavirus for employers--many technology executives I have been both talking and listening ALL are closing their
#SF office in favour of WFH. WFH has enabled and demonstrated that you can live and work elsewhere.Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
SF will get gloomy in a downturn - but generally the peninsula and SF have horrible housing stock and if folks don't have to be here it does not make any sense to have adults living like students in uncomfortable dwellings. This will unleash a golden era for the East Bay though.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
what's "good energy" to you? a city's heart & soul destroyed by tech & its employees? they came in, ran out multi-gen families & now run out, leaving a financial wreck in their wake. tech ruined San Francisco. let them stay gone so true San Franciscans can come home again.
#SF -
I grew up in San Francisco in the 1980s, it was very depressing and crime-ridden. This is what we will return to if the good jobs and high earners leave.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.