San Francisco Doom Loop Quickly Spiraling Out of Control
San Francisco’s doom loop just got worse. On the heals of the Hilton Hotel in downtown defaulting on their loan, another major player is packing up and heading out. KPMG, a prominent consulting and accounting firm, has decided to vacate its prestigious, namesake $400 million office tower. * * * * The root causes of this mass exodus are multifaceted, with businesses and residents citing escalating crime rates, an uncontrolled homelessness crisis, and the rise of remote work as primary factors driving them away from downtown San Francisco. * * * * Other highlights from the article- Nearly 100 retailers have shut their doors since the pandemics onset. In the first five months of 2023 alone, San Francisco witnessed 346 overdose deaths, marking an over 40 percent increase compared to the same period in 2022. The city’s high theft rates exacerbate this situation, with incidents like Walgreens in the city center being forced to chain their freezers to deter shoplifters. In Union Square of the...