Worth bearing in mind that housing markets are not so much driven by supply and demand, but by propensity to pay by the people who want to live or own property

Worth bearing in mind that housing markets are not so much driven by supply and demand, but by propensity to pay by the people who want to live or own property there. SF is expensive because tech salaries are really high. London is expensive because that is where funny money wants to park itself. Lisbon is expensive because tourists can pay a much higher fee per night than locals (because a tourist will only pay that fee for say 2 weeks of the year).