That's just totally disconnected from reality. The majority of Silicon Valley homeowners don't receive any equity compensation. You should walk around and talk to regular people sometime.

(The numbers may be different if you look solely at recent buyers in a certain limited set of neighborhoods.)

Those are the "already mega-wealthy." Their mortgage bills are low because they have enormous home equity.

And property taxes pegged to the value of the home in 1985!

Then there's going to be a lot of foreclosures soon.

Yup, I think the housing market got totally overheated on the back of RSU values going through the roof.

Now that even Apple and Google are well off peak, I’m super curious what happens next.