Yesterday, the Economics and Finance crowd from the San Francisco area gathered for a day conference. Amid the rosy outlooks and bullish unicorn tech scenarios, one talk really resonated. A slightly frumpled B of A economist presented a matrix of income to housing that swung from healthy to unsafe.
The Bay area housing market clocked in at a ground shaking 3 times the "unsafe" marker. Our prediction is shortly after the new President is sworn in, the market topic will be "How much impact will the West Coast housing crisis have on the Heartland?" Remember 1990 my millenial friend? Oh wait, sorry.