The rumors of SF’s demise. True or false?

San Francisco has been the subject of much doom and gloom in the media lately, portraying the city as a dystopian hellscape and rumors of a “Failed City”. Although the city has faced several challenges in recent years, here are some examples of why I believe the rumors of San Francisco's demise are greatly exaggerated: LAYOFFS Of the 49,425 layoffs announced by San Francisco companies, only 8,526 will be cut from offices in the city. This means that most layoffs will not affect San Francisco's economy directly (SF Standard). UNEMPLOYMENT San Francisco has the second-lowest unemployment rate in California, at 3%. This is well below the national average of 3.6%. INNOVATION Where else in the world do you see a self-driving car pulling up next to you at a traffic light? Cruise and Waymo are expected to get approval in June to operate self-driving taxi services for fare-paying passengers that operate 24 hours a day across the city.. OFFICES & EVENTS Real estate developer Michael Shvo is performing a $250 million renovation on the Transamerica building. The goal is to provide an experience in an office environment that's better than what one has at home, giving employers another tool to bring people back into the office. Tech-oriented co-working and events space Convene is also opening its first San Francisco location in October. RETAIL Luxury brand Chanel purchased the Williams-Sonoma building in 2021 for $63 million. This investment shows that businesses are still confident in San Francisco's economy. DOWNTOWN

Pedestrian traffic in Union Square is up by 27% compared with the same period last year. High-end Japanese-Peruvian restaurant brand Chotto Matte is scheduled to open in the summer at the former Macy's Men's Store......a sign that people are returning to downtown.

TOURISM SFO traffic is reaching levels that haven’t been seen since March 2020. International travelers spent $3.7 billion in San Francisco last year. This is up from $1 billion in 2021, but still below the $5.1 billion spent in 2019. However, the increase in spending is a sign that tourism is recovering.

STEPH CURRY CBSSports | Getty Images Although the Warriors' early exit from the playoffs was disappointing, 35-year old GOAT Stephen Curry's continued success on the court brings joy to the city, and his off-court work has made him a role model and a source of hope for San Francisco, demonstrating that anything is possible if you work hard and never give up.

So, are the rumors of SF's demise true or false?

Sometimes it is easy to feel like the problems in the city are insurmountable, but it is a shame to let the challenges of homelessness, drug addiction, and shoplifting overshadow all of the good things that the city has to offer. For me, San Francisco is a vibrant and exciting place to live and work. It is my home and I am not going anywhere.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

marketingcenter--