A startup 'extinction event'
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Owners of San Francisco's commercial real estate are deciding to give up once trophy properties rather than count on a revival of the city's downtown.
The number of publicly traded U.S. companies has fallen by more than half since 1996, according to data from the Center for Research in Security Prices.
Even buyers who can afford high home prices are dropping out as competition intensifies. "I'm done with this market," one customer told his lender.
Real-estate investors are turning down more fix and flip opportunities because they don't pencil out, said Toorak Capital Partners CEO John Beacham.