Think of San Francisco as a bowl, with it's limited real estate and finite density. All the money pours into the bowl and sloshes up the sides and overflows, r

Think of San Francisco as a bowl, with it's limited real estate and finite density. All the money pours into the bowl and sloshes up the sides and overflows, resulting in very high housing costs. The central valley is more of a sauce pan, when money is poured into it, it spreads out at a low price level.