Those “deep SS prices” you speak of tend to represent a pro-forma cap rate range of 7 to 8.5% in good coastal areas of CA. Meaning that buying is cheaper than renting, and landlords can make a profit under prevailing mortgage rates (they are, after all, providing a professional service in maintaining and managing the property). In other words, IMHO they were fair prices.

The only people who possible got unjustly fvcked were the people who bought during the bubble. And they should have known better. Investing several hundred grand is NOT to be taken lightly nor emotionally, despite the Pollyanna propaganda that the Nat’l Assoc of Realtors chooses to push on us all.