It's so weird to me that it's the same neighborhood people who were students or worked at non profits could afford to move to 15 years ago. The past is a foreign country.
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SF housing prices are built up on the idea that the next generation will pay exorbitantly more for them (which they have been for quite some time). When the next generation of wealth creation doesn’t happen in the Bay, it’s hard not to see a big crash coming.
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House prices have already stalled over the past year, it's hard to see how they go much higher
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The Lyft and Uber IPOs seem to be a small splash of reality intruding on the boom
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Even if Lyft and Uber implode and sour the market for exits Google, Apple, Salesforce, etc are still going to be here printing cash.
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The housing shortage is so bad now, not just SF but the entire area, even a big crash like the one in 2000 will not lower the housing cost that much.
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SF and much of the Peninsula already are "big company towns" and more importantly - the "VC petri dish" for "dabbawalla-style" delivery / services / investment "experiments" - the continuum of exploitation.
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