It’s a sign of just how low expectations have fallen whnn a city’s leading newspaper runs a story arguing that, yes indeed, the city is experiencing some doom, but on the upside it may yet avoid a “doom loop.” In other words, things are bad but not quite the worse case scenario.
“Five years from now, things should be back close to pre-pandemic trends, but we are looking at a recovery period of years, not months,” said Nicholas Bloom, a Stanford economics professor who studies remote work.
Bloom added, “Yes, San Francisco has taken a knock, so ‘doom’ is appropriate but not ‘loop.’” He may be right but five years is a long time. There’s no telling what else could go wrong in that amount of time. And as the story goes on we get to the bad news, a lot of which doesn’t seem to be getting over the next several years but worse. Starting with commercial real estate, there’s…
