The SF Bay Area is in another housing bubble. In fact prices are higher than they were in the last one, which didn’t end well. 3br, 1-or-2ba houses in bad neighborhoods are selling for $800,000. People are “bidding up” houses to one or two hundred thousand over the asking price.
Here’s a clue to what’s coming eventually (not right away): I heard an ad on the radio telling people to “take money out of your house” saying you could get $100,000 to spend.
That’s right, home equity loans are back, telling people to “take money out of your house.”