The San Francisco real estate market is a ‘disaster'.

[Thinker101]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

 

[CrusaderFrank]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

Another Progressive success story!

I’d LOVE to see Gavin Newsom as the democrat candidate debate Trump for this alone

 

[theHawk]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

Yup, it’s all by design.

Guess who wins.…the banks. They get to collect the property.

 

[EvilCat Breath]

Yup, it’s all by design.

Guess who wins.…the banks. They get to collect the property.

It is now worthless property. The best the banks can do for these hotel properties is let the city turn them into flops.

 

[Yarddog]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

Who would even want to stay in those rooms now? Yup, Liberals destroyed SF and made it a filthy and dangerous place... they were warned years ago but only answered those warnings with childish laughter. Kind of like candy corn. And even now in the face of their failure all they can offer up is dismissive laughter . Level that shit from the bay to the Pacific Ocean and chase the rats away.

 

[DudleySmith]

It is now worthless property. The best the banks can do for these hotel properties is let the city turn them into flops.

It's merely a swindle, by Newsom and cronies. Drive down real estate values, pick it up for pennies on the dollar or at govt. auctions with rigged bidding, then have your Party cronies grant you govt. grants and tax bennies for 'urban renewal', re-fund the cops, etc. and watch the values skyrocket back. If it doesn't work, so what, they're out very little out of their own pockets.

 

[Blaster]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

This is what happens when progressive democrats gain control.

 

[Thinker101]

Yup, it’s all by design.

Guess who wins.…the banks. They get to collect the property.

Typically, I'd agree, the banks win. If the properties remain vacant, it may be years and years before the banks benefit.

 

[EvilCat Breath]

It's merely a swindle, by Newsom and cronies. Drive down real estate values, pick it up for pennies on the dollar or at govt. auctions with rigged bidding, then have your Party cronies grant you govt. grants and tax bennies for 'urban renewal', re-fund the cops, etc. and watch the values skyrocket back. If it doesn't work, so what, they're out very little out of their own pockets.

Not even close. This has happened before. It is happening in many places now. This is how Detroit and Chicago became failed cities. It's how Portland and Seattle are becoming wastelands.

 

[BluesLegend]

San Franciso, Portland, Seattle once the jewels of the west coast are now drug addict, homeless camp, illegal sanctuary shitholes where crime pays. Rob a store, break into vehicles, run amok the Dem government looks the other way while the taxpayers who are forced to pay for police/justice services get F'ed over.

 

[EvilCat Breath]

There isn't an easy way to come back from this either. The population of homeless is increasing even as the people capable of working is decreasing. At the present time the cost of caring for the destroyers is hampering if not crippling the city. Daily more homeless arrive by bus to the sanctuary city.

Productive people are looking at becoming slaves to the less fortunate. They are expected to provide food, clothing, shelter and safe drug sites while enduring a constant barrage of violent crime. There will be no dragnet of mass arrests. There will be no urban renewal, there will be no refunding the police. There is a new majority and a shift in the balance of power.

 

[Independentthinker]

"San Francisco was once the jewel and the crown. San Francisco was our personal favorite city, our clients' favorite city. The jewel and the crown is now a disaster."

In June, Park Hotels & Resorts Inc. announced that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

MSN

It has turned into a shithole city, literally.

 

[okfine]

You should compare how bad it is in Florida. 80% higher housing prices in 5 years time. The highest inflation in the country. That damned Red State is a shithole in itself.