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They won't. The impact of interest rates on home markets is too great for these tiny layoffs to be significant.

SF Housing is already dropping, but unfortunately it's so expensive that even a substantial drop of 10-20% would still leave it as one of the most expensive markets in the country.

The supply shortage is so severe that it would take a crushing local depression to balance out.

It’s easy to forget that tech is only about 15%-ish of the Bay Area job market.

Already has, but I would not expect any pre 2020 prices unless the US has a complete meltdown. On the contrary, it seems like US is in an amazing position relative to other places in the world.

It won’t. Companies that overhired in lossy areas are still hiring in growth areas. This is a rebalancing, not a shrinking: demand for tech workers still far outstrips supply.

Even if we assumed they are all moving away (they aren't, plenty of hiring still) it would take some time.

> plenty of hiring still

Doesn't sound like it from responses the other ASK HN post. But you are right, i get a sense that it might take years before the havoc they've created will unravel.