The pandemic period was a nightmare in terms of the health crisis and death toll, but it was very beneficial monetarily due to the free money distribution by the US government. Working from home gave people new ideas, including the option to pay less for residences outside of the municipal limits. This caused real estate prices to climb quickly. and a bubble has been noticed in the property market.
The stock market saw investments from people with cash on hand, which gave the sensitive index an immediate boost. For a while, everything appeared to be going well, despite an increase in inflation. The effects of the recession are now being felt by the businesses. Daily losses are being experienced by the stock market. Companies are continuing with layoffs because they are having trouble making ends meet.
Here is a list of the alarming situation:
Meta - laid off 11,000 (13%)
Twitter - laid off 3,700 (50%)
Intel, Snap - layoffs 20% Robinhood – layoffs 30%
Stripe, Salesforce, Lyft - layoffs ~13%
Microsoft, Shopify, Netflix, Coinbase - layoffs Apple, Amazon, Disney, Linkedin - hiring freezes
By the middle of 2023, according to experts, the situation will be at its worst, making it difficult for Silicon Valley techies. The real estate market has slowed down as a result of the lack of home purchases currently. According to analysts, property prices may drop by 50% in many regions and have already fallen sharply by 20–30%.
The stock market saw investments from people with cash on hand, which gave the sensitive index an immediate boost. For a while, everything appeared to be going well, despite an increase in inflation. The effects of the recession are now being felt by the businesses. Daily losses are being experienced by the stock market. Companies are continuing with layoffs because they are having trouble making ends meet.
Here is a list of the alarming situation:
Meta - laid off 11,000 (13%)
Twitter - laid off 3,700 (50%)
Intel, Snap - layoffs 20% Robinhood – layoffs 30%
Stripe, Salesforce, Lyft - layoffs ~13%
Microsoft, Shopify, Netflix, Coinbase - layoffs Apple, Amazon, Disney, Linkedin - hiring freezes
By the middle of 2023, according to experts, the situation will be at its worst, making it difficult for Silicon Valley techies. The real estate market has slowed down as a result of the lack of home purchases currently. According to analysts, property prices may drop by 50% in many regions and have already fallen sharply by 20–30%.
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