So , back to this thread about why I sold my condo in SF...(readthe posts before to catch up)
Once a city has this much momentum downward, it cannot change course quickly, takes generations. New families have to stay, have grandchildren, plant roots https://twitter.com/adamscrabble/status/1014692167871328256

9/ So it became a case of my pain tolerance. Heres here it gets interesting. I am very close with several of the TOP ceo's of the real comanies in Cali (real meaning they are NOT VC schemes and ARE profitable) - there take on SF is catastrophic.

10/ the rioting, despair, communist movement is very frightening to the CEO's. Ine of the convos I alway shave with them is about how I acquired Real Estate holdings - this is because many of them are stock rich, but hard asset poor. A city NEEDS ppl to buy real estate...

11/ there are many reasons for this, one biggie is it is much more predictable income for a city, i can forecast forward many years with tax collection, etc, - But the economics of a young family buying (and then trading up) is horrible, better to rent. BUT...

a get rich for young people has always been buying multi family rental buildings and living frugally, cant do that in SF, those families migrate to where THEY CAN DO THAT. Another biggie against SF now is migration OUT...a new and irrevcalble trend

13/ example..in NYC we alsways had boom bust cycels (until bloomberg), in good time people from the bays would migrate here, in bad times they would move back to Cali SF/LA and live with family, ride the storm. BUT now, in bad times they arent migrating back to cali...

14/ cos their family roots are somewhere else, Oklahoma, another country, etc.,
Sp, I cashed becuse all of this creates despir in young folks (and older) cosif there is no silver lining (thats not perhaps delusional like IPO, etc) they think "all this money, im rich and poor"

15/ there is NO safety valve for SF despair/ FILTHY city, high taxes, unaffordable hard assets(real estate), rich bit no wealth, communist/socialist ("this time it will work") - how can a person get to mental equilibrium???!!!

16/ if a person cannot forecast a roof over their head a year forward, shiz goes on in their head.
So, I sold nd left because i would be there for about 2 months a year and it was this year over year clinical depression of the city and its residents. How can that change??

17/the city has contempt for its residents/laws that constrain new housing development (that would allow ppl to plant family roots) SF has this disgusting 'not in my backyard' that also forces out nurses, caregivers, so an older person HAS to move to where the 'help' is. So...

18/ what will be left of SF is a true american style (so less severe) caste system. either you have hard assets, or you;re one bitcoin away being homeless. But again, I left cause i lost pain tolerance and patience.