as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
what is the best way to short the san francisco real estate market?
user
you could short home builders who do a lot of their business in northern california.  (not just san francisco, silicon valley, or even the bay area.)  home prices in sacramento and the northern san joaquin valley are correlated with bay area home prices. many of these builders went broke during the last bust, so you might have trouble finding a publicly traded home builder that is concentrated in just one market.
assistant