The Wolf Street Report: December 9, 2018

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Includes: BBRE, CLAW, DRA, DRN, DRV, FREL, FRI, FTY, HOML, IARAX, ICF, ITB, IYR, JRS, KBWY, LRET, NAIL, NRO, PKB, PPTY, PSR, REK, RFI, RIF, RIT, RNP, RORE, RQI, RWR, SCHH, SRS, URE, USRT, VNQ, WREI, XHB, XLRE
by: Wolf Richter

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.