San Francisco experienced a 43% year-over-year decline in sales tax revenues during the pandemic, which has been credited to an exodus from the expensive city. Egan told Fox News that while areas throughout California experienced a decline in sales tax revenues, other cities saw an uptick in online sales – but San Francisco did not. “In San Francisco, we saw a big drop in brick-and-mortar sales, and very little increase in online sales,” Egan said. “So it raises the question, where did that spending go?”SAN FRANCISCO NEIGHBORHOOD SEES 100% INCREASE IN BURGLARIES DURING PANDEMICOther data supports an exodus of residents from San Francisco – as remote work guidelines allow some workers more freedom in choosing where to live. Egan said ApartmentList data shows that rent prices declined in San Franisco by a larger amount than any other city they track as well.

Source: Fox News October 09, 2020 21:56 UTC