The West Coast Housing Bubble Bursts Even Without Tech Bust, which is still to come.
The biggest housing markets of the West Coast - the Seattle metro, the San Francisco Bay Area, and the Los Angeles and San Diego metros - went through phenomenal price inflation over the past few years, with prices having shot way past their highs of Housing Bubble 1, before it imploded. This multi-year surge culminated in a last-glory spike early this year. Since then, housing markets have turned south at different speeds. And unlike the prior two housing downturns, the inevitable Tech Bust hasn't even started yet.