confidence is at all time highs, incomes and wages are on the rise... the stock market has priced in this growth of course as it is very efficient, but regarding other asset classes... real estate in particular is very much a local economy supply demand driven asset ... so it doesnt need to correct necessarily but could soften industrial metals could continue to grow, oil and other inputs to economies as welllthe globe actually looks pretty robust and in growth mode actually.as for the quesiton "what do do" if you genuinely think everything is overvalued... get in cash... spend money on enjoying life experiences , and do things to help like donate to non profits that help a cause you  like.... its not always about making money, but its about enjoying the journey

I don't think it's such a bold statement to point out that rents have already softened from SF down through San Jose (this side of the bay).

This implies the lower end of the market has softened, but the higher end is constant with buyers. 

While I agree the rental market has softened, the picture painted in the previous post is at the extreme end of things.

I do want to point out, that demand is crazy high in our market, so I understand if the market softens, we may need to cater to individual schedules out of necessity in the future.Some inquiries from potential tenants do provide an air of entitled attitudes (I.e we as landlords need to cater to their schedules, as if our own schedules are irrelevant), in which my response is to say “sorry you can’t make the open house, good luck to you in your search”.

From what I hear, the market is softening up there, even in the higher-end areas.

With summer gone, there are fewer homes available yet still many purchasers which continues to drive prices up about 1%/month.  ...And no, a softening of this market is not in the foreseeable future.

For example if mass layoffs where to happen - but instead we have record low un employment rates.Here is my only caveat: record boom markets like TX and FL could see some sort of a technical correction and prices could soften there after exploding - correcting an exuberance.

People will just be able to buy less of a house or prices will soften a bit.

I was just thinking that my 'answer' to the original question here is more along the lines of softening my tenants.