There&#x27;s a decent chunk of certain segments of the tech sector in the Bay area but saying they have a &quot;de facto monopoly on the US tech sector&quot; is overblown. There are plenty of tech jobs in many areas of the country (including but not limited to jobs with companies that are headquartered in Silicon Valley).<p>Much of the Bay area has had expensive housing for decades. Even if there&#x27;s a downturn that disproportionately hits SV startups, the impact on Bay area housing prices is probably going to be pretty minor in the grand scheme of things.