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Old Posted May 3, 2013, 2:50 PM
mt_climber13 mt_climber13 is offline
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Join Date: Jan 2012
Posts: 1,165
Several factors could delay this project indefinitely:

DotCom bubble burst 2.0 - facebook buying Instagram for $1 billion, facebooks initial value of billions of dollars which has been steadily sliding is about as stable as a sandcastle build in the amazon rainforest. Really, how volatile are commodities like facebook and twitter? Do you really think they will be around forever, or even that much longer? Look how fast MySpace came and went. These tech companies are fueling the office market surge in SF. It's a rather fleeting type of market.

San Francisco housing bubble burst, brought on partly by the above. The average rent is something like $2,800 and homes are selling for incredibly exuberant prices. Is this sustainable? Perhaps- with the support of foreign, especially Chinese, capital. But china is on the verge of their own economic/ real estate bubble disaster. Search for the 60 minutes piece on Chinese ghost cities.
The forfeiting of investment into treasure island is also telling about how china is starting to tighten her purse.

I really want this to be built, but, San Francisco's economy is dependent on mostly fleeting factors, unlike that of NY and LA. We'll see what happens. Fingers crossed!
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