I see only certain parts of the bay area eventually falling in price but it will NOT be the uber-established, desirable areas such as SF and Palo Alto, Los Altos, Atherton, etc. It will primarily be the areas where the tech “worker bees” bought into since about 2000 or so.
Since the areas listed above have a preponderance or “old money” and all-cash buyers, I just don’t see them falling in value because these types of buyers will never be desperate to sell. The worker-bees who are laid off will be desperate to sell.
And SF isn’t going to get any cheaper. There is only ONE in the world and its economy is tied to many other industries besides tech. It is also self-contained separate and aside from SM and SC counties.
