The graph of "million dollar cities" reveals an interesting story: The SF Bay statistical area has many more "million dollar" cities than the San Jose statistic

The graph of "million dollar cities" reveals an interesting story: The SF Bay statistical area has many more "million dollar" cities than the San Jose statistical area to which it is adjacent. SF is relatively dense, so the high prices reflect the cost of land. SJ is not dense at all (mostly farmland) and land is not as expensive. This is a further argument for higher density housing of course. And the argument that wages aren't keeping up is hard to reconcile: if wages can't keep up then the price of houses would be falling.