San Francisco loses super star status

[sav858]

Originally Posted by CorporateCowboy

There's also tech, finance/banking, medical science, biotech, manufacturing, (leading-edge) education, aerospace and so on (particularly relative to the Bay Area). That said, there's obviously a distinction between a desirable region to live (weather, education, recreational opportunity, ocean, the Bay, and a diverse economy) vs. 'tourist trap/gambling/one-trick pony' i.e. New Orleans or Las Vegas. So to answer your question, no - I don't think New Orleans or LV are desirable places to live (and never said they were). That's my point relative to technology/corporate restructuring post-pandemic i.e. many (more) will look beyond a daily place of employment as the primary reason to live in a region.

Yes obviously but again those are industries that are more likely and easily able to go remote. So if you lost those jobs en masse, not saying SF will but they might lose some due to WFH, then being left with mainly just tourism isn't exactly something to boast about or going to help carry the torch for SF's "superstar status".

If given the option to live somewhere based on weather and recreational opportunities I think SF actually loses out to some other cities like San Diego. What does a diverse economy matter if you have a job you can work from anywhere at that point?

[smashystyle]

The Bay Area has been a desirable (and expensive) place to live for at least 50 years, well before even the dotcom boom. If some tech leaves, it will continue to be desirable and expensive. Maybe there's a little less housing demand, but with that comes less traffic, less displacement of people with lower incomes, and less monoculture. I don't foresee major changes, maybe you roll back the demand 5-10 years.

[HappyinCali]

Originally Posted by sav858

Yes obviously but again those are industries that are more likely and easily able to go remote. So if you lost those jobs en masse, not saying SF will but they might lose some due to WFH, then being left with mainly just tourism isn't exactly something to boast about or going to help carry the torch for SF's "superstar status".

If given the option to live somewhere based on weather and recreational opportunities I think SF actually loses out to some other cities like San Diego. What does a diverse economy matter if you have a job you can work from anywhere at that point?

Your main assumption, that jobs are leaving, is not being supported by multiple datapoints I and others have posted here.

[sav858]

Originally Posted by HappyinCali

Your main assumption, that jobs are leaving, is not being supported by multiple datapoints I and others have posted here.

I never said jobs are leaving.

[CorporateCowboy]

Originally Posted by HappyinCali

We are seeing it right now. Dropbox’s HQ got sold for a record price and it is converting to life sciences building because demand for biotech space in the bay area is scorching hot. We also obviously have tech, medical, finance, legal etc.

Dropbox has been leasing the (entire) complex for three years, and Vir Biotech has been subleasing for awhile. Dropbox intends to retain (far less) space relative to its various (global) locations (SF included) in terms of office studios and space for team collaboration. That said, the buyer is rumored to be KKR (global investment, M&As, and so on); and the record-breaking commercial purchase (in terms of price/square foot) would appear to speak confidently to SF's 'super star status'.

[Bonezman765]

Originally Posted by smashystyle

The Bay Area has been a desirable (and expensive) place to live for at least 50 years, well before even the dotcom boom. If some tech leaves, it will continue to be desirable and expensive. Maybe there's a little less housing demand, but with that comes less traffic, less displacement of people with lower incomes, and less monoculture. I don't foresee major changes, maybe you roll back the demand 5-10 years.

don't forget all the immigrants who have the fantasy about the "American Dream", combined with all the PR work Silicon Valley does. great amount of people moving in still who will keep obscene housing prices in their place to make boomers and their inept children happy.

[Valley Boy]

Originally Posted by smashystyle

The Bay Area has been a desirable (and expensive) place to live for at least 50 years, well before even the dotcom boom. If some tech leaves, it will continue to be desirable and expensive. Maybe there's a little less housing demand, but with that comes less traffic, less displacement of people with lower incomes, and less monoculture. I don't foresee major changes, maybe you roll back the demand 5-10 years.

This. But the way the technocrati diverged on SF in the last 5-10 years is nuts. Everything is such a hassle and people have become different. I donno, it just feels so different. I'm glad I got to enjoy the bay of 15-20 years ago though, very thankful for that.