Is San Francisco in a housing bubble?

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If so, it’s been in it for about twenty years.

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I would like to belive it but as some one who’s family lives in the Bay Area for the last 12 years I have been hearing it almost for the last 8 years

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There is no housing bubble.

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A perpetual housing bubble

smart

The Bay Area suffers from a pretty tough 1-2 punch with a lot of extremely wealthy people looking to live there coupled with extreme NIMBYism from the people who already live there preventing new housing from being built. These leads to a supply crunch where prices inflate to meet the demand of wealthy folks and squeezes out anyone who isn’t. So long as Apple, Google, Meta, Oracle, etc. continue to employ large numbers of highly compensated people in the Bay Area, the high prices will endure. The only solution is to build more multi-family housing, which NIMBYs hate, so if you’re not loaded or already a homeowner in the Bay Area, you’re SOL.

helpful

Agree with all of this. Guess I’m wondering, is now a bad time to buy? Prices seem so absurd but if they’re not going to go down…

No.

No because there is no cheap lending happening like in 2008. The high prices are due to a shortage of inventory, and in up and coming markets like Austin, due to rich people moving from other wealthy areas and driving up prices due to pandemic reshuffling.

There are plenty of people that made a lot of money in the stock market in 2020-2021 so they felt rich enough to buy a home that they couldn’t afford otherwise. Now they are less rich

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