San Francisco prices coming back down to Earth?

[Jason V.]

http://www.zerohedge.com/news/2016-06-17/bursting-...

Now I know Zero Hedge has a tendency to 'Chicken Little' every situation, but is there some merit to this one? 

If it's not the start of a big correction, I think it's at least an indication of the market growth slowing quite a bit. 

I also hadn't heard about the tech layoffs and reduced venture capital money going there - those seem like pretty big indicators to me.

Thoughts? 

And yes, I'm aware that over a long enough hold period, SF has been a good market for appreciation - but so were the midwest and northeast markets, up until they weren't anymore.