Elon moving to Texas and Larry moving to Nashville, along with remote work and AI is inherently very bearish for Bay Area home prices.
When everyone moves out, Chinese are gonna be left holding the bag.
Yesterday I saw a townhome in Saratoga.
900 square feet.
$2 milly.
lol
This is concerning:
The US economy lost -28,000 private jobs in October, the first net loss since December 2020.
Furthermore, the 3-month moving average has declined to 67,000, the lowest since the 2020 pandemic.
This is well below the average of 150,000 monthly private payroll additions seen in 2018-2019, prior to the pandemic.
The worst part?
Full-time private sector jobs have dropped by a whopping 1.5 MILLION year-over-year.
Such a drop in full-time private jobs has never been seen outside of recessions.
The labor market may not be as strong as it seems.