Agree it is something larger but just the same it seems like faster rate and with higher prices much bigger dollar increases. I think its both macroeconomics and shifts in who lives here.
I think people spent a year in lockdown and the upper half did very well saving tons of money. The hospitaility workers for example got crushed but they ar emore typically rfenters due to mobility and affordability. After spending a year at home, people want nice homes. I know many people who even with things getting much better re covid still plan to spend much more time at home.
Also there are plenty of places that arent seeing this boom. An example is where I grew up back east. Median HH income is 10% higher than 92009, schools on par or better but prices are maybe 30% of what they are here. Whatever is going on everywhere is more a macro trend. What is going on here is a fundamental shift of what this place is and who lives here.
