It will happen again. Again and again and again, and with increasing frequency as the global economy becomes more and more interdependent and fragile.
Housing prices in SF are now fragile to, among other things, the price that Yukos gets for its oil, the banking system in China, grexit/brexit votes in the EU ... on top of all of the usual suspects like interest rates which will become greater than zero at some point in the future.
It's hard to spill too many tears for the very, very current conditions when it is all but assured that everyone will have a buying (and controlled renting) opportunity sometime soon.
It will happen again. Again and again and again, and with increasing frequency as the global economy becomes more and more interdependent and fragile.
Housing prices in SF are now fragile to, among other things, the price that Yukos gets for its oil, the banking system in China, grexit/brexit votes in the EU ... on top of all of the usual suspects like interest rates which will become greater than zero at some point in the future.
It's hard to spill too many tears for the very, very current conditions when it is all but assured that everyone will have a buying (and controlled renting) opportunity sometime soon.