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Well if not an IT bubble, surely there's a housing bubble. "Home prices in San Francisco and surrounding counties rose more than 15% in the past year". That's
by MortenK 13y ago
Well if not an IT bubble, surely there's a housing bubble. "Home prices in San Francisco and surrounding counties rose more than 15% in the past year".
That's the kind of increase we saw year after year just a year or two before the bubble popped, and prices fell by 50% or so (around 2005-2006 I guess).
It's funny how the majority just assume prices will keep on climbing (I was one of those merry fools by the way), and in hindsight it becomes so obvious that such increases are not sustainable.
- dragonwriter 13y ago> That's the kind of increase we saw year after year just a year or two before the bubble popped, and prices fell by 50% or so (around 2005-2006 I guess). IIRC, while prices in many parts of the state fell by that much or more, prices in San Francisco did not (and the much smaller amount they did fall in SF was much later than the general bubble collapse, around 2008-2009, as a result of the general economic slowdown caused by, among other things, the collapse of the real estate bubble nationally, not because there actually was a bubble in SF particularly -- SF prices were pretty flat, IIRC, 2005-2008.)