Thornberg Warns Bay Area Housing Faces ‘Bust Side’ as Mortgage Rates Climb Past 7%

Speaking at Star One Credit Union's third annual Bay Area Real Estate Forecast in Campbell, Beacon Economics founder Christopher Thornberg argued that an overheated national economy, not inflation, is pushing borrowing costs higher, and that the region's locked-in homeowners and chronic supply shortage will keep its housing market stuck until a downturn finally brings rates back down.