#1,857 - San Fran's Doom Loop continues as property owners contest $60 billion in property values
News For Reasonable People
English - August 20, 2023 11:00 - 33 minutes - 23.6 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Ever wonder why the skyline of major cities like San Francisco, Portland, and New York City seems a little less gleaming these days? We're setting the stage to discuss the significant and alarming drop in property values that has swept through these cities, transforming iconic landmarks into heavily discounted investment opportunities. We'll walk you through the precipitous drop in assessed values of well-known properties such as the Westin St Francis Chase Center, the Westin St Francis Hotel, and the Transamerica Pyramid, providing both a micro and macro view of this unprecedented situation. We'll also present some long-term investment opportunities that this situation has created, for those with the foresight and courage to bet on the future of our cities.
Now, let's take a step back and look at the bigger picture. The pandemic has not only changed our personal lives but has drastically altered the real estate landscape in major metropolises. With the rise of remote work, demand for office space has plummeted, bringing major construction projects to a grinding halt and prompting property owners to seek temporary tax relief. As we peel back the layers, we'll provide a comprehensive analysis of how this could potentially impact city services, especially in cities like San Francisco where property taxes are the lifeblood of their revenue stream. We end by analyzing the future implications of this shift in work culture, and how it is set to shape the real estate industry. Strap in for this intense dissection of our changing urban landscapes.
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