In the last week or so I read more than one writer in the local press claim that the current sea-change San Francisco is undergoing is nothing new, that newcomers have always been arriving, and this is just a new generation coming in.
That’s not quite true. While there's always been a new generation coming into the City every 20 years or so, the current influx shift is more than generational – it’s a whole new economic strata or class.
The following quote illustrates what I mean by that:
“Some of the wealthy young people are literally coming down [to buy a cordo or apartment] with bags of cash, and whatever the offer price is, they’re offering $200,000 over – in cash.’
– Cobalt Corazon (click here for full article
Better than bags of cash
is showing up with a silver attaché case neatly stacked with rows of benjamins.
This is no longer a city you move to. This is a city you buy in to.
But that’s the way it is in San Francisco 2015, our Monaco-by-the-Bay, the City of the Future!
Copyright © by Chris Enquist 6/11/15