This hotel in SF just dropped 50% since 2016. Billionaires are over their heads on real estate; how are they gonna hoover it up when they can't afford their existing loan payments? It can and will happen.
A 50% reduction for one luxury apartment tower in the city most affected by remote work in the entire world and one that also has a notorious crime problem. What is your reasoning that this can be extrapolated to an 80% housing market crash on the national or global level?