With real estate prices in some of those areas going up %10+ per year, and the 6-8% transaction cost of selling a property, buying something that you may not ne

With real estate prices in some of those areas going up %10+ per year, and the 6-8% transaction cost of selling a property, buying something that you may not need for 10 years starts seeming more rational. It's a risk, because things change, but if you know you're going to be somewhere long-term, it's a rational decision in a irrational game.