Qualcomm has been around so long that the vast majority of employees could have bought years ago (especially in the 2008-2012 low price period). A former manager of mine was Managing Director for Qualcomm Europe. He made so much money on stock options, that he could easily retire, it was several million dollars for one person.
For more recent employees, you may have a point but even then, the effect will be minimal.
More Chinese buyers will buy more homes in one year than Qualcomm employees will sell. I was driving by an investment property in 4S ranch and see a group of them doing Tai Chi in the morning. The group keeps getting larger month by month.
With low interest rates, low supply, constant immigration, low energy prices, and lack of new construction, prices will be flat in the worst case, probably continue up at the 2-5%/year range for the mid term. If several years from now, the shale boom is over and we get some energy price inflation, then perhaps rates rise which will put a damper on things. In the mean time, Telsa, GM, Nissan are brining out more EVs which should cap energy cost inflation.
Wage inflation will stay capped by global competition.
So even if we have rent inflation in California, the rest of the country won’t be so bad because they will build more elsewhere like in Texas.
So big picture, some layoffs at one company won’t do much.
