There's over 25 million square feet of commercial real estate currently vacant in san francisco. A lot of office leases that were signed during the peake of its economic growth are going to expire. Some landlords are looking for their property values to be lowered, and some want to have their taxes reduced since their properties have decreased so much in value. Drastic reductions in commercial property values will also, of course, have downstream effects on the tax base.
A new Texas anti-censorship law gets a critical court win, the White House walks back politically charged comments from the president, and experts warn that San Francisco is heading for a real estate crash. Get the facts first on Morning Wire.