In financial crisis, a developer was offering 40 hours of private jet time with the sale of a penthouse condo...But realistically, if a seller isn't negotiating price, I would not expect to get anything else, including closing cost assistance.  

As a result it can have a bit of an identify crisis for realtors when they have a client who says they want to be in a particular neighborhood and at a particular price point...these properties may not pop up on someone's radar. 

More California cities will be dealing with rent control along with stricter rent controls in cities like Oakland that already have it if AB 1506 is successful as it's currently written...its really sad too because repealing Costa Hawkins and/or Ellis Act (separate bill that I can't recall # off top of my head) is not going to solve the lack of affordable rental housing or the growing homeless crisis...IMHO.  

So we have to be diplomatic and tactful in our responses and, even though it's what I'm always striving for, I could have done a better job in this instance.

What has only been touched on here, but is central to the west coast housing crisis, is zoning.

I'm still going to work on my deal flow as this crisis plays out and focus on the Three Immutable Laws of Real Estate, laid out by Joe Fairless:1) Buy for cash flow2) Secure long-term, low leveraged debt and3) Have adequate cash reserves

Kinda like the '08 financial crisis. 

@Ariel G. the reason your cash flow is less affected by an RE crisis is because when people look at buying a house, they look at the maximum amount of monthly payment they can afford, then buy it.

This sort of "mainstream" coverage is exactly what got folks into over-leveraged and under-analyzed deals that led to the financial crisis of 2008 & 2009.  

To be sure, home prices in lower-income neighborhoods are quite sensitive to economic conditions and availability of financing, so a recession or credit crisis could quickly stop (or at least delay) the positive trend.