To me there's nothing really surprising here. Prices in SF are down just 5%. The pandemic is a massive negative economic event. You would think it would impact markets like SF much stronger (50%+ drops in value considering the insanely high prices), but that just goes to show how in demand living there is. I also don't see any companies leaving, so why would residents leave? Just because of remote work? I don't buy it.
Additionally, it seems there's some underlying mechanism sustaining the economy from completely collapsing. Whether it's just a factor of time, or something else I don't understand. But the stock market is sustaining, and the housing market seems to be even improving in certain areas.
The bottom has to fall out from under this thing at some point, but who knows when. Impossible to tell.
Additionally, it seems there's some underlying mechanism sustaining the economy from completely collapsing. Whether it's just a factor of time, or something else I don't understand. But the stock market is sustaining, and the housing market seems to be even improving in certain areas.
The bottom has to fall out from under this thing at some point, but who knows when. Impossible to tell.