[VeilEm]

Given how hard hiring has been, I doubt it. The current talent shortage could absorb a huge number of engineers. A lot of startups are well funded for many years anyway. People are predicting doom and gloom but I really don't see it. Home prices falling is also probably not a terrible thing, even on an engineer's salary homes are hard to come by, and rents are extreme. A small correction is probably a good thing. I bought my house at the bottom of the housing market in 2011 and its value has nearly doubled since then which is ridiculous to me. I also have enough savings to last me years. Lots of companies are also doing just fine. This really isn't the earth shattering dot com bust some of you want it to be.

[gonyea]

Housing here is just limited supply and high demand. I don't see prices falling, given how strict getting a $1m+ loan is in the first place.

Prices won't really go down unless people are forced to sell.

That said, I have sympathy for the LinkedIn engineers who were holding all their stock for a down payment. That's gotta hurt.

[crdoconnor]

The out-sized "demand" is largely coming from yield hungry investors and Chinese investors looking for a bolthole.

Both kinds of demand could easily be clamped down upon by raising property taxes - the victims of which would be wealthy foreign investors and people who have sat on one of the largest increase in property values in history.

Likewise, supply could be increased if local government were at all interested in doing so just by building 10,000-20,000 low income apartments.

If the government announced both, the cost of San Francisco housing would plummet within days.

[meddlepal]

Why do you think home prices will fall? There is plenty of foreign investment money out there to shove into the real estate market.

We have this problem in Boston right now. We're building and it's doing nothing to the rents because it's being snapped up by foreigners.

[nostrademons]

The Chinese stock market hasn't exactly been doing great lately either...

[cbr]

Why do you think most of the new housing here in Boston is going to foreign investors and staying empty?