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In a sense, I think you are right.

This is a comment from a recent thread: https://news.ycombinator.com/item?id=14763198

Is seems to me that the problem is the amount of money flowing into SF and once that dries up, housing prices will go with it.



That is not the case. Prices have steady risen since the 1970's.


Prices on pretty much everything increased since 70s. Its just with some assets/localities the prices deviated too far from the trend line..


Real prices on manufactured goods have tumbled.




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