Emily Bagger, quoting Yale economist Robert Schiller on the housing bubble:
So, why was it considered an investment? That was a fad. That was an idea that took hold in the early 2000’s. And I don’t expect it to come back. Not with the same force. So people might just decide, ‘Yeah, I’ll diversify my portfolio. I’ll live in a rental.’ That is a very sensible thing for many people to do.
That all may be true, but it sure doesn’t feel like it here in the Bay Area.