This is an interesting idea shared by KTVU. I suggest checking it out:
SAN JOSE, Calif. (KTVU) – The Bay Area has seen great growth in recent years from jobs to housing prices, but some economists say the tech industry is due for an economic correction. Some are going as far to say the tech bubble is about to burst.
In 1999, Britney Spears topped the charts and Silicon Valley was on the verge of the Dot-Com Bust.
It was a day of lavish parties and IPO’s, but when that bubble burst, the Bay Area lost 20 percent of its jobs, the rental market dropped 30 percent and housing prices dipped 10 percent. Fast-forward to today and some say we are on the verge of another slowdown.
“It does remind me of the Dot-Com Boom,” said Cynthia Kroll, the Chief Economist of the Association of Bay Area Governments, about the recent boom in technology.
“I didn’t want to use the word ‘bubble’ but the valuations got so extreme over the last couple of years that it is bubble-like again,” said Kenneth Rosen, Chairman of the Fisher Center for Real Estate and Urban Economics at UC Berkeley.
More on this story can be found on KTVU’s website.