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Escape from San Francisco: Sales-Tax Revenue Plunge, ‘Worst In The State’ Amid COVID Exodus

By Tyler Durden | 12 October 2020

ZERO HEDGE — We’ve observed many times throughout the pandemic that the coronavirus-related lockdowns, especially as impacting restaurants, bars, theaters and other night venues, have made living in already expensive big cities like New York much less attractive.

It appears this trend of people ‘escaping’ the big cities as the prime lure of being there has largely evaporated — also after a summer of chaotic race and police shooting related protests and mayhem  is poised to hit San Francisco, despite it previously witnessing steady population growth over the past three decades. New tax numbers freshly out suggest a major exodus is already in progress.

But for the first time in recent history, and as the city’s large tech employers like Google, Facebook and Uber have kept their employees at home working remotely, city data shows that “Sales tax data shows San Francisco’s population likely declined during the coronavirus pandemic,” according the city’s chief economist Ted Egan. […]

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