What’s Gonna Happen to Bay Area Housing?https://link.medium.com/tel8cKNT1W
Which doesn’t mean the problem is fixed, because housing prices are still unaffordable for almost everyone. But I think the wild uncontrollable growth in SFBA home value may be over for now.
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Well, if that’s true, better than nothing. My friends here say declines are super rare, but you get flat periods after run ups.
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I’m told that after the dotcom crash 1BRs that used to rent for over $2K started renting for $1300 or so.
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I think when I did the essay/overview on Google I even mentioned how increasing housing prices led to increasing salaries.
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Jonathan Tang on HN had an interesting theory that the Bay Area home value boom was the direct result of the collapse of the Schmidt/Jobs labor cartel. Cartel collapses > FAANG salaries explode > employees buy up basically *all* the houses in the Bay Area.
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