Right you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.
I have to beg my wife to not compare what you can buy for the $$ here vs. SD.
To say you can buy twice the home in SD is not to tell the whole story. You can buy twice the square footage, twice the lot size, twice the quality, 3 times the amenities, 1/10 the age, 10 times the weather, 1/3 the commute, the same quality of school, 5 times the beach, and 1/2 the stress for the same $$ in SD as you can in the Bay Area.
Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.