The rapid growth of the high-tech sector is giving a lift to San Francisco’s economy, reports the SF Chamber of Commerce. Commercial management firm Jones Lang LaSalle estimates the number of high-tech jobs in San Francisco will soon surpass the record of 34,000 set in 2000, accounting for 1 in 5 office jobs. Such rapid growth is fueling office occupancy. City-wide, vacancy is down to 13.6 percent in the first half of the year. Residential vacancy rates are also declining.
As I have pointed out before, Silicon Valley is one sector benefiting from the latest Fed money printing and that money is starting to slide into Fog city.
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