[sidlls]

What collapse? In all but the most deplorable areas houses will have multiple offers within days of listing, starting even before any marketing effort. In many cases we're talking cash over the asking price. This isn't coming mainly/only from the tech sector. The number of people with FAANG salaries simply isn't sufficient to support the large number of multi-million dollar homes here. A lot of it is absentee (foreign) investors (for example, just under 20% of purchases in San Mateo as recently as 2019).

At best we might see a slight cooling in the rise in already absurd prices for property out here.