SVB Is a ‘Nail in the Coffin’ for Bay Area Housing Market’s Gold Rush

After months of anemic purchaser interest, agents began seeing larger crowds astatine unfastened houses successful January and getting aggregate offers supra asking terms connected their listings. By aboriginal March, though, climbing owe rates, plunging banal prices and mushrooming Big Tech layoffs tempered hopes for a outpouring rebound. Then came past week’s tally connected the slope that was intricately tied to the region’s monolithic detonation successful wealth.