If I'm not mistaken, most of the value of the home in places like the Bay area is not the house itself, but the land it sits on. In that case, it's super reason

If I'm not mistaken, most of the value of the home in places like the Bay area is not the house itself, but the land it sits on. In that case, it's super reasonable to expect it to appreciate in value, just like any other commodity. Arguably more so.