Is San Francisco’s outrageous housing market finally starting to crash?

Is San Francisco’s outrageous housing market finally starting to crash?

 Higher end homes have been sitting unsold for longer. Days On Market numbers looking longer.

  • The China stock market crash slapped a hard dose of reality on pending buyers.
  • The global rejection of Silicon Valley spying and data harvesting has reduced revenue for Silicon Valley companies. Layoff and down-sizing “emergency plans” have been requested by some tech controllers “just in case”.
  • Lower donations to Democrat candidates has put DNC in cash flow crunch, indicating less liquidity from the, now poorer, Bay Area Democrats.
  • The stream of Asian buyers looking for “loop-hole properties” has leveled out.
  • City-wide hatred of “tech brats” has discouraged more from coming.
  • High tech rich kids who moved to San Francisco on their parent’s dime are already burned out on SF. “It is not the dream world we thought”. Traffic jams, no parking, crime, bad place to raise kids turns them off. Nobody is buying their stupid iPhone Apps.
  • IRS discloses one of the biggest migrations OUT of California. Many leaving the area because of the housing market.
  • Combined forces may be creating perfect storm of Bay Area housing crash metrics.