If tech layoffs continue to mount, and mortgage rates remain elevated, it could keep housing markets out West in correction-mode. That could especially be true if tech layoffs accelerate later in the year when the housing market has moved into the slow season. On one hand, it’s unclear how many tech jobs could be lost as a result of regulators’ Friday decision to close the nation’s 16th largest bank. On the other, the demise of Silicon Valley Bank clearly signals that the Federal Reserve’s ongoing rate hikes will cause further pain in the tech sector. #mortgage #housing #sanfrancisco https://fortune.com/2023/03/11/western-housing-markets-home-price-correction-epicenter-brace-for-hit-silicon-valley-bank-collapse-signals-more-tech-pain/amp/
Wishful thinking
I wish. But prices will go down only when I get laid off and can't find a job.
Legit concern, if the number of layoff-affected households gets big enough and folks aren't able to find new jobs to stabilize their household budgets. But we're not even close to the tipping point here.
All SVB depositors will get all their money back, read the news before writing yours for god’s sake
Op is a dummy still waiting for housing crash with eyes closed 😂
Always hilarious when folks think a tiny number of layoffs in tech could impact a market as large as housing lol
These kind of posts instill more confidence in bay area housing
It's funny how people who bought at the peak behaving like kids 😚
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