You underestimate the amount of money floating in the Bay Area…
People have been saying this about the SFBA since the gold rush. This hasn’t changed the propensity for bubbles and bursts.
Secondly – there is room to build relatively close to SF. Oakland. East Palo Alto. Areas need to gentrify, but this will happen.[/quote]
And neither has the dominance of tech capital in terms of wealth and housing prices. Housing prices have always been expensive in the bay area…
And even if East PA or Oakland would be gentrified (which would take a long long time), housing would still be in short supply…
The housing prices go up pretty exponentially relative to the school district in the Bay Area. Look no further than Cupertino, Palo Alto, and Mission San Jose..And in SF there’s always banker hill, which is spoken for by your elite 0.05%.
