Saturday, February 3, 2024

Chronicling San Francisco's death spiral

San Francisco is hit by another huge blow as RESIDENTIAL property market begins to tank, with investor landlord ditching 459 homes across 12 buildings due to plunging occupancy blamed on crime

  • Landlord Mosser Companies defaulted on a 2018 loan for $88 million that was underwritten by its 459 rental units across 12 buildings in San Francisco
  •  Its creditors are now selling off the multifamily home properties as vacancies fall to 82 percent 
  • San Francisco is experiencing a post-Covid 'doom loop' as occupancies have risen as families move out to escape rising crime and open air drug markets 

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