As a homeowner in San Francisco... this is great. The cost of living has been too high here for ages, and the prices distort both our society and the economy. It'll be rough for speculators, but in the medium term everyone will come out stronger.
After the pandemic, we'll have the chance to see real businesses start here that don't rely on giant checks from VCs for viability; new restaurants will see more opportunities to take risks, as the cost to rent will collapse; and we'll end up with people moving here who want to live here, not those who despise the city but feel compelled to move here in pursuit of the almighty dollar.
I encourage companies to continue to support remote work. And, if you do hate the city, please leave, move to Boise, and let people in who will appreciate it.
It's funny you mention Boise; that city, and many parts of Idaho/the west, are undergoing their own insane housing price inflation at the moment that's surging through the pandemic; real estate prices are a serious problem in a lot of places that aren't SF/NYC.
Only SF residents can say and mean this, no city wants jobs to go away. It is not just jobs you don't like that goes, those jobs support and pays for a lot of other jobs in the area. They also a pay lot in taxes which keeps the city running
Ghost towns are not the same small towns. Larger cities become ghost cities not go back to being smaller.
SF is lot more likely to become Detroit if businesses leave, everyone should worry about that.
SF won’t become Detroit. I credit SFs culture for a lot of the innovation seen here. Not sure if it’s gold rush energy or what, but there’s an unparalleled optimism and just people looking to reinvent themselves.
After the pandemic, we'll have the chance to see real businesses start here that don't rely on giant checks from VCs for viability; new restaurants will see more opportunities to take risks, as the cost to rent will collapse; and we'll end up with people moving here who want to live here, not those who despise the city but feel compelled to move here in pursuit of the almighty dollar.
I encourage companies to continue to support remote work. And, if you do hate the city, please leave, move to Boise, and let people in who will appreciate it.