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If there is a market correction coming in the Bay Area tech world, then for many of us layoffs and plummeting home prices are likely to happen at the same time.
by superuser2 11y ago
If there is a market correction coming in the Bay Area tech world, then for many of us layoffs and plummeting home prices are likely to happen at the same time. I accept that unemployment is a possibility, and I accept the the collapse of the value of my assets is a possibility, but I'd like to make sure they happen separately.
- GFK_of_xmaspast 11y agoFrom what the old timers say, house prices were pretty steady during the last bubble burst.
- ChuckMcM 11y agoHowever, if that happened it would be unprecedented. Seriously so. During the foreclosure crisis, which was itself unprecedented, house prices fell in a significant way for the first time, they also recovered faster than any other part of the country. A possibly more realistic scenario is a magnitude 9 quake along the Hayward fault. Something that would destroy (not merely damage) a significant chunk of infrastructure resulting in the dissolution of hundreds, if not thousands of businesses and the concomitant unemployment that would ensue. However even in that case the amount of resources available to restart are really unprecedented relative to the rest of the country.
- mahyarm 11y agoAn earthquake on hayward might just make housing worse as many businesses will still be around, but the housing supply dropped a lot.