0 Members and 1 Guest are viewing this topic.
Yes, people are leaving San Francisco. After decades of growth, is the city on the decline? Roland LiUpdated: Oct. 9, 2020 8:18 p.m. Plunging BART and Muni ridership. The weakest online sales tax collections in the state. A 20% drop in apartment rents. Spiking office vacancies.San Francisco’s bleak economic vital signs over the past six months strongly suggest residents are leaving amid record job losses, the entrenchment of remote work, and a coronavirus pandemic that shows no signs of ending.It’s still unclear how many people have left, but moving vans and Medium posts tell the story of an ongoing migration. Weakness in the rental market and virtually flat online spending during shelter-in-place show that residents aren’t just staying home, they’re leaving, experts say. The city’s ability to attract new residents or lure old ones to return will be critical to avoid punching a giant hole in a local budget that has swelled to almost $14 billion. ...
Restaurant and bar sales were down 65% as indoor dining was prohibited, while food and drug store sales were down 8%. (Food staples at grocery stores aren’t taxed but prepared meals and other items are.)
