The billion dollar franchise is apparently unable to afford rent in SF commercial buildings as owners of said buildings push rent up to kick business out in favor of residential housing.
Reading articles like this make my mind go in circles thinking: If business is kicked out for residents, then luxury condos are made, then only upper middle class and higher income levels can live there, and then there's a high demand for restaurants and retail stores, but since there are so many condos, and so little business, there will be too high of a demand and too little supply and everyone is like "awwww what happened to all the culture I we moved out here to experience???"
It is a positive feedback system that I feel like will only destroy itself. If huge corporations are being fazed out of SF what chances would a locally-owned small business have?
Rant over.
What are your guys' thoughts?
i agree, it's a positive feedback loop that isn't going to work over time. san francisco's economy is becoming extremely skewed in an unsustainable way. that being said, down with mcdonalds!
ReplyDelete