This is what’s going on in Silicon Valley and San Francisco, in Housing Bubble 2, crazier than anything before it, dwarfing even the bubble that peaked in San Francisco in November 2007 and then imploded.
In their beautifully made video, “Million Dollar Shack: Trapped in Silicon Valley’s Housing Bubble,” Steve Fyffe and Michelle Joyce show in gripping details how money is washing over the area, the hubris it engenders, the foreign investors who buy homes for investment purposes, renters who get dizzying rent increases and are forced out….
It’s time for people who can’t afford to live here to make room for those who can, says the “real estate rock star” who is prominently and hilariously featured. Worth every minute of it!
To read more bout the film makers Steve Fyffe and Michelle Joyce, check out their site, “Million Dollar Shack: Trapped in Silicon Valley’s Housing Bubble.”
But those few warning of a housing crash are “scaremongers” – And this is now playing out in Australia. Read… Why Mainstream Economists Deny Housing Bubbles Until After They Implode – Which They ALWAYS Do
Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.