Normal people like me can’t buy a house in Bay Area anymore
With Lyft IPO few thousand millionaires going to storm the housing market . The Bay Area home prices will go up and up .. Next Uber, Slack, Pinterest, Postmates etc
Well, we cannot buy a house in the Bay Area either, even with the IPO.
Haha. This
I don't think Lyft alone generates a few thousands millionaires (before tax, 2/4 vesting?). Anyone who can give some clear number?
Numbers range between 5K-20K millionaires
People can't sell until the lockup expiration period, so at least another year or two from now before then.
Lyft employees will end up owing money
Uber employees are always so bitter sounding.
not bitter, just realistic. Lyft s1 sucked balls
That's not going to change until we keep bringing employers and employees but not add proportional numbers of housing units. Existing homeowners and cities don't want new construction in their neighborhoods.
yup. nimby
I can't comment on the accuracy, but found the numerical analysis here quite interesting: https://www.financialsamurai.com/how-new-tech-ipos-could-actually-accelerate-the-decline-in-sf-bay-area-real-estate-prices/
Interesting. It basically boils down to “the overheated market is going to collapse”. Well, it has been overheated for over 20 years and I am still waiting for that collapse.
I agree completely with what I think you're saying: that's a lot of numbers that don't seem to add up to a credible case. Despite all that, I appreciated the authors commitment to an attempt at quantization. Made me think about how much else of my life I should stop being lazy and attempt to model.
What exactly does "normal people" mean?
OP is implying they are not going to be a millionaire in the IPO.
What about South Bay?