Boo boo. They've been charging 3 to 10x the price of other cities for the past 40-years and they haven't had a chance to save enough to get through a lull?
Also, the tech corridor of SFO to San Jose has been at risk of a housing price drop-out for several years. Ever since the big tech companies started converting conference rooms to more cubes and "open work spaces" and staff have been attending meetings through their laptops while all the attendees sit in various parts of the building. It took only the slightest motivation to test the work from home concept. Few tech companies will ever go back to "normal". Some companies are already offering exit SFO packages (slight salary cut with permission to move to any city with non-stop flights to SFO area). I'd move out of a $3000/month studio in San Fran in a heart beat.
Seems like only last year, local SFO politicians were complaining about lack of affordable housing - by next year, they'll have so much they won't know what to do with it.