But the Bay Area cannot keep up with the spectacular collapse of prices during Housing Bust 1. That had been a doozie.
The clueless WSJ reporter needs to be taken to the woodshed. That kind of BS article doesn’t belong in the WSJ.
Union Bank made a deal to sell its tower at 75% off original listing price, setting the first new benchmark. Other towers waiting in the wings.
Step 3: The economy… but that step hasn’t happened yet.
Where is demand for homes supposed to come from when the population keeps declining?
Still not many layoffs, but concentrated in the San Francisco Bay Area. Workers found new jobs quickly, and employment in California still rose.
In the first 10 months of Housing Bust 2 (now), the median price plunged a lot faster than in the first 10 months of Housing Bust 1 (2007-11).
Kudos to the Wall Street Journal for having excelled once again with such acuity.
The WARN filings, by company.
Hammered by waves of layoffs, swooning stocks, collapsing cryptos, and 6% mortgage rates.