I do not agree. You assume that things don’t change. The past 100 years doesn’t matter at all because the past 80 years are starkly different than the last 20

I do not agree. You assume that things don’t change. The past 100 years doesn’t matter at all because the past 80 years are starkly different than the last 20 years. It’s not only the local housing bubble that one needs to be concerned about, it’s the stock market, specifically tech, bubble in general that should give rise to concern. While your city is culturally diverse, it is economically homogeneous. Sure, a stock market correction or downturn hurts the whole country, it specifically impacts those who overpaid for assets. If you can’t pay the mortgage for the next couple years, does it really matter that it will undoubtedly bounce back in 5-10 years? Never buy an assessment that is overpriced. Housing in the Bay Area is obviously and unarguably overpriced because supply is artificially suppressed.