A 20 story tower in San Francisco valued at $320 million dollars went up for auction, not a SINGLE bidder even for $1

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A 20 story office tower right in San Francisco that used to be worth 320 million dollars just went up for auction and got zero bidders. Not one person stepped up even for a single dollar. The building at 600 California Street is in rough shape after the whole downtown office crash. High vacancies from remote work killed it and the lender ended up taking it back.This kind of thing shows how bad things still are in San Francisco. Investors are staying far away even at rock bottom prices.

A localized commercial real estate crash has been spreading through downtown Baltimore City’s office market like cancer, with more than $1 billion in property value erased since 2020. The rapid decline of the commercial tax base in the downtown area is colliding with deep structural crises, including violent crime, a continued population collapse (now at a 100-year low), fiscal mess, and the increasing risk that the unhinged left-wing politicians in City Hall will hike taxes on working poor households to offset the shortfall. What you’re seeing in Baltimore is a death spiral: capital leaves, residents follow, the tax burden shifts onto those who stay, and the cycle feeds on itself with no clear bottom in sight.

The Baltimore Sun, now owned by conservative David Smith (who also owns Sinclair Broadcasting), and Democrats in the state have become visibly angered that the paper is not producing left-wing propaganda as leftist Gov. Wes Moore’s polling data slides. Reports from the paper indicate that between 2020 and fiscal 2026, more than $1 billion in commercial property value has been erased, or about 29% of the city’s commercial properties – 4,085 out of 14,027 – saw their assessed values slashed on average by 28.7%.

https://www.zerohedge.com/personal-finance/downtown-baltimore-cre-crash-signals-deeper-fiscal-crisis-ahead