San Francisco is hit by another huge blow as RESIDENTIAL property market begins to tank

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DAILYMAIL.COM
By ALICE WRIGHT
2 February 2024

• Landlord Mosser Companies defaulted on a 2018 loan for $88 million that was underwritten by its 459 rental units across 12 buildings in San Francisco
• Its creditors are now selling off the multifamily home properties as vacancies fall to 82 percent
• San Francisco is experiencing a post-Covid 'doom loop' as occupancies[sic] (vacancies) have risen as families move out to escape rising crime and open air drug markets

(more)
https://www.dailymail.co.uk/news/article-13039859/San-Francisco-residential-property-market-low-occupancy.html

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When I read this I thought, 'I have seen this before somewhere?' Wasn't one of the themes of Blazing Saddles that the rich and the politicians work together to unleash crime and chaos on a community so they could sweep in and buy it all on the cheap? Turns out all of that "open immigration" and "defund the police" was not so civic minded as was presented. It was all cynically calculated for commercial gains.

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"Its creditors are now selling off the multifamily home properties as vacancies fall to 82 percent" and "Mosser Companies took on the debt pre-pandemic with low occupancy rates, but as the city by the bay grapples with a post-Covid doom loop occupancies have risen as families move out to escape rising crime."

It appears the idiot that wrote that article doesn't know what the words "occupancy" and "vacancy" mean...

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It appears the idiot that wrote that article doesn't know what the words "occupancy" and "vacancy" mean...

@DB

Yes! Thank you. I noticed that too. Wanted to fix it, but I never change the written text.

[DB]

@DB

Yes! Thank you. I noticed that too. Wanted to fix it, but I never change the written text.

I just added a couple of quotes from the article so that if it is changed later there's a record of it here.

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BTW ... Daily Mail is notorious for misspeaking. I have read many headlines there which were utterly indecipherable.

You would think that a British tabloid would be experts at English. But that is not the case. I will guess the editor is not from England.