To start the presentation, Carole did a bean counting: Apple, Google, Netflix, Amazon, Netflix and Alphabet dominates 90% of the local economic growth. A lot of foreign investment is coming back to USA – estimated to be 3 Trillion
Robust GDP growth in the Bay area is only after India and China.
A growing economy supports a strong real estate market. Bay area real estate market will continue upswing for at least another 20 months. Market may slow down by 2020.
Even if the market were to follow cyclical trajectory in two years, it may adjust 15-20% , the price will be around where we are now.
We are going through an Economic Revolution – it changes how people live, work and move around. It eliminates some of the old way of business, it also introduces new opportunities. All of us just continue to move into new era and look forward to new challenges.
At the end of the presentation, on request from audience, Carole promised to come back around mid year to give us an update of the economy.