Earlier quoted context omitted.
... which is sort of an interesting criticism, until you consider that you get a chance to "luck out" every 6-8 years or so when the real estate market crashes. There have been at least 3 such occasions since the Netscape IPO, and another on it's way. Hope you saved some money.
While there are reasonable arguments on both sides of the growth/zoning/etc. debate, I suspect that in the January 2016 economic climate in the Bay area, no reasonably imagined housing expansion would make more than the smallest dent in housing prices. Look at Manhattan. Yes, you can't build willy-nilly whatever you want but there's certainly plenty of high-rise residential construction and housing prices are still p…
Isn't that kind of tautological? Prices are always relatively high in desirable areas, and the high relative prices are actually a contributing factor to their desirability. What's more eye-opening is that prices in desirable areas are so high relative to above-average incomes for the area.