That scenario has happened repeatedly - 91-94, 01-02, 08-11, and now from 2018-present. It usually plays out as a ~10-25% drop in housing prices over a few yea

That scenario has happened repeatedly - 91-94, 01-02, 08-11, and now from 2018-present. It usually plays out as a ~10-25% drop in housing prices over a few years as the market exhausts itself, followed by a resurgence as wages & demand starts catching up again. https://havengroupsf.com/wp-content/uploads/2017/12/30-years-of-san-francisco-bay-area-real-estate-cycles.jpg https://havengroupsf.com/wp-content/uploads/2017/12/30-years... The way I think a glut could arise is when a tipping point is reached and pro-housing renters outnumber NIMBY owners on city councils. This has happened already in Mountain View (which was notoriously anti-development until a group of young pro-housing Googlers packed the city council and voted out all the NIMBYs in 2014, and now green-lights nearly any housing development), Sunnyvale, Redwood City, and San Mateo, and may make its way down to San Jose and up the rest of the peninsula. At present a lot of Bay Area communities are starting to look more like Paris: dense ~4 story apartment buildings, public squares, outdoor dining on pedestrian thoroughfares, etc.