Bay Area housing affordability nightmare hits home, so to speak.
It depends on the value of the home.
BS asking prices meet the ax.
An ugly red flag for all of California goes up.
Even the Fed put commercial real estate on its financial-stability worry list.
There are 67,507 new apartment units in the pipeline.
And transactions in the apartment sector plunge.
Home prices are “weighing on affordability and constraining sales.”
Commercial and residential real estate bubbles choke the economy. The upper bounds of hype and craziness have been reached.
It’s a Great Time to Sell and a Bad Time to Buy, they think.