From fake “office shortage” to historic glut in no time.
OK, it’s getting a little crazy: Massive shifts due to working from anywhere and the Pandemic. But some of those shifts started well before the Pandemic.
And we coined “Management by Zooming Around.” Which is what Oracle’s Larry Ellison is doing.
While landlords are muttering, “And this too shall pass.”
San Francisco rents plunged by stunning 27% in 18 months. But in 5 big cities, rents jumped by 20%+. But in some of the cheapest cities, rents dropped.
On Fumes of Stimulus and to Soothe the Frustration.
The glut is in neighborhoods with condo towers, particularly where the construction boom has been. Neighborhoods with low-rise buildings are less impacted.
There’s a housing shortage until there’s suddenly a housing glut: see San Francisco et al.
California Emerged from its “Reset.”
Efforts to redevelop dying Stonestown Galleria in San Francisco turn into mess. The beating of landlords will continue until mood improves.