[theandrewbailey]

Cutting rent means that the property is worth less. That means investors are demanding to know why the property is worth less, and the city collects less property taxes which might lead to politicians asking questions.

While all that may be necessary, it won't happen until it's the only thing that can happen.

[mistrial9]

"fox guarding the hen house" is an old way to describe this. Gatekeepers have financial and competitive reasons not to make adjustments, and they do not.

[lattalayta]

How much longer do you think property managers can hold out?

[beambot]

Lease non-renewals will continue over the next 4-5 years. TBD on when defaults hit a tipping point or runaway failure, but it doesn't bode well for the particularly-exposed regional banks.

> About 700 office leases are likely to expire in 2023 and another 600 are up in 2024 in the Financial District alone, said Avison Young’s insights and innovation head Dina Gouveia, for a total of about 10 million square feet of office space. In 2025 and 2026, another 10 million-plus square feet are likely to expire.

https://therealdeal.com/sanfrancisco/2022/10/17/downtown-sf-...

[prpl]

probably just long enough to ruin downtown for a good decade or more