In One Chart: Everyone’s asking San Francisco: Can you see a bubble if you’re in a bubble?

The spreading grip of the technology sector on the San Francisco Bay Area means the boom reaches to every service sector that well-paid techies consume. But what that really means is that when a tech boom becomes a bubble, it’s a real-estate bubble, a restaurant bubble, a luxury-vehicle bubble, even a public-services bubble, writes Charles Hugh Smith.

Boom money can land its beneficiaries and all the hangers-on in the center of said bubble, a vantage point from which it’s nearly impossible to realize you’re in a bubble, Smith writes in his Of Two Minds blog.

“You will find it difficult to walk more than a few blocks in central San Francisco without encountering a major construction project.

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