Tech layoffs and BA home pricing

At the investment club at my work, I've noticed more and more consensus that Bay Area housing pricing will continue to experience further downward pressure in line with the rest of the country due to the domino effect of all the macroeconomic events leading up to corporate layoffs. I've also been anticipating some degree of BA layoffs since April and I came across this site that is tracking layoffs. Nifty site! Now, I am not sure how many of the companies listed here today are actually in the Bay Area but it will be interesting to see if the big Bay Area tech companies are gonna break sooner or later and the effects (if any) to the housing market. Bay Area housing pricing is something I've had a lot of passion around given our circumstances and I would imagine for many other people as well. Or maybe I am just too much of a Burbed addict ;)

Edit 10/23/08: I tend to agree with Joe's comments.