It's not as much a bubble as it is a supply-demand situation. > The buyers, who work in tech, had been hunting for a home for a while — but kept getting out-bi

It's not as much a bubble as it is a supply-demand situation. > The buyers, who work in tech, had been hunting for a home for a while — but kept getting out-bid, said Mini Kalkat, the Intero agent who represented them: “They lost two before they bid on this one, so we kind of knew what the numbers would be. It’s a crazy market, but there’s a way to maneuver the market.” Source: Mercurynews.com [posted in previous Discussion] https://news.ycombinator.com/item?id=15238835 https://news.ycombinator.com/item?id=15238835 Given that the house is close to Apple HQ and other tech companies there, and that these buyers kept getting out-bid 2 times before, they probably got tired of it, and had the money to put in a very high 1st bid that would almost guarantee that they'd win it, and they won it. San Francisco went through a very similar situation from 1998 to 2004 (the .com bubble and burst was in that period). If you lookup any house in the city for a 10 year period (from 1995 to 2005) you'll notice that the prices almost tripped for most house, condos, big or small, because .com millionaires were doing something similar to what's mentioned in this story back then, i.e. placing ridiculously high bids over asking so they could guaranteed get a place, and since they had the money, they didn't give a sh*t. Even though the .com bubble burst brought down prices from 2004 - 2008, they didn't fall nearly as much as they rose in the 10 year prior.