I see it as a bitcoin experiment where they collect millions in rent on the 1st from 10,000 owners, then go bankrupt on the 2nd and shut down the business and move back to the beach. 

I just got home from a high-end a East Coast seminar where I counted at least 3 Billionaires.

Without a billionaire owner vested in the City, I don't see the decision being reversed to serve the greater good (of the City vs. the city.)I'm thinking the way you are that the local area will get worse before it gets better.

There are plenty of investors out there to sop it up, although I''m sure some localized areas will have their ups and downs..So how much Bitcoin do you own Justin?

Countries like Brazil, which has been booming lately and making lots of new multi-millionaires and even billionaires, where do you think those people want to not only safely invest and park some of their new-found wealth but also get a second home with that money?

Hi Derek - I figured you'd be retired now given how well bitcoin has done.

For example, let's supposed that once in a lifetime deal that will make you a billionaire overnight came along and all you needed was a couple hundred thousand dollars.

The coastal areas have some of the highest valued real estate in the country, at the same time, it is home to centi millionaires and billionaires. yet other areas further inland have lower priced homes and wage earners.

.- huge density of high earners and billionaires  in costal metros increases demand. - high construction cost due to earthquakes and local regulations keep supply and density of housing low.- loans esp. jumbo,commercial, and HML are cheaper in CA due to competition (3% 5yARM w/25y amortization in hot metros matching the low 2-3% cap rates!)

Chump change for a newly minted Silicon Valley billionaire!