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Non-Tech : Kirk's Market Thoughts
COHR 154.70+8.2%10:40 AM EST

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To: Sdgla who wrote (15783)4/13/2023 10:21:08 AM
From: Kirk ©  Read Replies (2) of 26579
 
Downtown SF Whole foods closed, a third of SF office towers empty and rather than cut rent the owners are offering incentives BECAUSE if they cut lease rates it devalues all the office towers and could start a negative feedback collapse, and now stories are out that people who work hard and want value are leaving too.

Via email summarizing today's SJ Mercury News stories:
More wealthy residents leaving Bay Area, analysis says: Freed from the office, wealthier people who work remotely are leaving the region, a new report says. It’s a trend that could make an economic “doom loop” even worse as it hurts Bay Area’s job centers and urban cores, leading to strains in the tax base and city services.

••• Read more stories about the Bay Area exodus and the state’s downward population trend.
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