[hal9000-tng]

Agreed. What has happened in the last 75 years is historically new:

1. The growth of information/knowledge (the Information Age) jobs, which are now the majority of all jobs in the U.S.

2. The growth of remote work tools (the jury is out on how productive people are remotely at the moment, but new tech will drive this soon so that you will be just as or almost as effective in your kitchen or local coffee shop)

3. The growth of global transportation (the Jet Age) that allows previously localized diseases to spread globally in hours, instead of months or years

These factors are new and together likely presage a historic shift in how and where people work.

Ironically, except for this market adjustment in larger cities, the ability for people to work productively in other locations will put continuing downward pressure on the cost of living in cities as people leave, and probably hit some sort of equilibrium at some point soon.

... all this to mean that you should sell your investment properties in the Tenderloin ;)