Because it's super important for political reasons that San Francisco be seen as failing. It's the same phenomenon as perception of the national economy: if you don't like who's in power, you think the economy is poor.
My grandmother in law just sold her place in SF after living there since the 60s.
7 of 9 offers were from Chinese nationals looking to park their money. Full cash, no inspection, no contingency and of course never visited by the potential buyer.
Market forces and demand are not necessarily about a desire to live there.
I don't think anyone can claim one way _or the other_ on this issue. Once you live in a place that is being used in some part to park mainland Chinese money, like I currently _do_, you really start to wonder why there aren't readily available statistics on this problem.
I don’t know enough to make a declaration. But I do know that she was renting the downstairs (it was a 2 unit apartment) for the past decade to the same people. Once this is a ghost house, no one will live there, thus one rental off the market. Is some demand artificially constrained?
Because it's super important for political reasons that San Francisco be seen as failing. It's the same phenomenon as perception of the national economy: if you don't like who's in power, you think the economy is poor.