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KamaAina

(78,249 posts)
Mon Jun 8, 2015, 02:37 PM Jun 2015

New tech money is destroying the streets of San Francisco

http://www.marketwatch.com/story/new-tech-money-is-destroying-the-streets-of-san-francisco-2015-06-08

The City by the Bay is famous for its steep hills, clanging cable cars, enveloping fog and stately Victorian-era homes.

But these days, in the current tech-fueled real estate boom, many of these lovely Victorians are nothing more than a facade, as if they were on a Hollywood set.

It is now hard to find a Victorian home for sale that has not been gutted, its architectural details stripped and tossed. And owners or developers — looking to sell at a premium in the frenzied real estate market to “techies with cash” — hope to appeal to the tastes (or lack thereof) of current buyers, by turning once-charming homes with detailed woodwork, built-ins and art glass, into clones of Apple’s minimalist retail stores.

This trend has been developing for several years, but it seems far more prevalent today, with construction sites sprouting across the Bay Area and especially in San Francisco. And in addition to the remodeling frenzy, older buildings appear to be disappearing at a scary pace.


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New tech money is destroying the streets of San Francisco (Original Post) KamaAina Jun 2015 OP
most cities in America.are frosting on cardboard olddots Jun 2015 #1
Whatever San Francisco neighborhood you're in, the streets are filled with houses being torn apart. NBachers Jun 2015 #2
Hipsters ruin everything mackerel Jun 2015 #3
The price neighborhoods pay for speculation bubbles daredtowork Jun 2015 #4

NBachers

(17,110 posts)
2. Whatever San Francisco neighborhood you're in, the streets are filled with houses being torn apart.
Wed Jun 10, 2015, 09:37 AM
Jun 2015

Some are being lovingly re-built, but lots of 'em are just maintaining enough façade to get away with it.

daredtowork

(3,732 posts)
4. The price neighborhoods pay for speculation bubbles
Mon Jun 15, 2015, 06:07 PM
Jun 2015

is that commercial rents also spiral out of control. Quirky local busineses get replaced with generic franchises that can front gigantic rents through ridiculous cycles and have the clout to renegotiate later. The character of the neighborhood is rapidly destroyed.

And of course there is the issue of the type of services in demand by people who have no taste because they have succumbed to 24-hour jobs and round-the-clock networking. So they get services to enhance their health and appearance. Places to meet up and party. Gadget emporia.

I'm starting to get mixed feelings about bikes. They used to be symbols of healthy, green, responsible living. But they are also a vehicle of choice of the invading forces. Hard not to see the flocks of bikes as a symbol of gentrification, too.

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