Housing Exuberance Led by Shiller’s U.S. Glamorous Cities – Bloomberg
In San Francisco, [residential real estate] prices are being driven up by the soaring technology industry. In May, a record 211,400 people were employed in the city’s professional services sector, which includes computer design, an increase of 12,400 positions from a year earlier, according to the California Employment Development Department. Jobs in health care and private education services, leisure and hospitality also had larger-than-normal annual increases….