Rent also comes into play. But just like any market the prices may not be connected to those fundamentals. It depends on expectations. But yes, the perfect s

Rent also comes into play. But just like any market the prices may not be connected to those fundamentals. It depends on expectations. But yes, the perfect storm was always going to be rates going up and a recession and if this isn't the perfect storm then what is. Well, my house is up 40% since I bought it exactly two years ago so I think I'll survive (I knew I was taking some risk). [EDIT: Not in the Bay Area]