What is the impact of mass tech layoffs on the local housing market?

Yeah, I mean it always sucks to get laid off, but the people losing their jobs here are getting a hell of a cushion while they find a new job. Especially since they are already some of the top earners in the Bay Area. It’s hard to feel too bad for people who were making $200K+ per year and will continue to do so for several months while not working. Meanwhile so many people living here in the Bay will continue to barely make enough money to pay rent and eat. The few months severance alone will be way more than many make in a whole year. The only ones I feel genuinely really bad for are H1B employees because they’ve established lives and families here that could get uprooted if they don’t find another job fast enough. Again, it sucks to lose your job but with the salaries they were making and the severance packages, it’s your own fault if you didn’t put some into savings to get you through times like this. Fast growing tech is high risk high reward.

/r/bayarea Thread Parent