[bufordsharkley]

Bay Area rents have risen to match the ability of tech workers to pay. There's a general collusion of landlords, insofar as they target what other units are renting for in the neighborhood (which of course has nothing to do with marginal cost).

[mpweiher]

Does that really look comparable to you? After all, SV is one of the most desirable/sought after property markets in the world, with extremely limited supply and the tenants there generally not exactly candidates for BI.

Generalizing to all property markets, particularly ones not as supply-limited seems a stretch at best.

Furthermore, I see no evidence that SV landlords manage to soak up all the income of their tenants, not by a long shot, or where are all the fancy cars, motorcycles, planes, etc. coming from, never mind all the high tech gadgets?

[bufordsharkley]

> Generalizing to all property markets, particularly ones not as supply-limited seems a stretch at best.

Oh, absolutely. But so many of the cities in high demand are supply limited. I wouldn't expect this to hold in a Houston, Atlanta, Phoenix, or a rust belt city.