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Stephen Schork, Principal of the Schork Group, discusses OPEC and California’s energy policies in an interview on ‘Mornings with Maria’.
San Francisco saw one of the largest median incomes of any major city in the country as wealthy tech workers fled the city in droves during the COVID-19 pandemic, according to census data.
The U.S. Census Bureau compiled data from 2019 to 2021 to determine the impact of the epidemic on the nation’s 25 most populous cities. Media household income in the San Francisco, Berkeley, and Oakland area declined 4.6% to $116,005 in 2021 from $121,551 in 2019. New York City, however, saw a 4.2% decline.
San Francisco also saw a large increase in homelessness throughout the pandemic, further contributing to the exodus of workers and companies.
The Castro Chamber of Commerce, which represents about 125 businesses, sent a letter to the city government in August saying it would withhold tax payments if the city can’t control homelessness.
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The Golden Gate Bridge in Francisco. (iStock/iStock)
A homeless encampment near a freeway entrance in San Francisco, California (iStock)
The city’s rising crime rate is contributing to the struggles of local businesses. Hamid Moghadam, CEO of San Francisco-based real estate firm Prologis, sent another letter to the city after he was robbed outside his home in broad daylight.
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“I have a hard time telling candidates to move to San Francisco,” he wrote. “Even though we pay the highest taxes in the country, local and state, we do not have a sense of security.
In San Francisco, homeless tents line city streets. A homeless community creates a camp with all their suitcases, tents, sleeping bags and valuables. (iStock)
“Keeping people safe should be the government’s primary job – it’s the foundation of a successful city. Only in a community where people feel they and their families are safe can jobs and culture thrive.”
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San Francisco schools have not escaped the pandemic, falling sharply nationally after the city voted to scrap merit-based admissions. The city’s premier Lowell High School fell out of the top 100 high schools in the country this year.
Aislin Murphy contributed to this report.
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