patrick.net

dunnross says

Could it be that you, having lived in San Francisco, just filtering out any negative San Francisco reviews

Oh, no, I'm not saying I only hear positive reviews. I grew up in rural Colorado, where people think, at best, you'll turn gay if you go to San Francisco! So I'm familiar with negative views of San Francisco.

One of the people I have in mind, when I write what I've written here, lived in Munich. He dreamed of moving to San Francisco and finally was relocated by his company. He and his wife have now lived in San Francisco five years and seem to really celebrate their opportunity to be here. He and others seem to think San Francisco has a desirable aspect of European cities. I've not traveled to the European continent much having only visited Rome, Amsterdam, Athens, Munich, Dublin, and Galway, so I'm not sure why they think that about San Francisco. That also seems to be an opinion held, though, by colleagues in Rome, Milan, Stockholm, London and Nuremberg.

It wasnt expensive in the past... why anyone would thing we should be overpriced is weird to say the least...

Below are May 1997 prices..http://archive.dqnews.com/AA1997BAY06.shtm.. factor in inflation and income growth.. we are looking at 30-40% higher prices today..
that would mean prices below would range within the forecast below with actual recent prices at July 2012

as you can see Contra Costa / Solano are just right with 1997 prices + inflation (40%)
Sanoma isnt too bad, but like the chart above stll indicates... others need to still correct. With 40% the numbers may be over-optimistic. You may need those Facebook options after all to skyrocket to buy any home at the median. I would discount Marin ... old money doesnt need income...LOL! Santana is doing just fine!

.............................Actual ..Frcst..Actual Delta + Over - Under priced
Alameda... ............$219 $306 $385 .....78
Contra Costa .......$225 $315 $308.......-7
Marin .....................$357 $499 $660 ......160
Napa ......................$170 $238 $372 ......134
San Francisco ......$289 $404 $565 .......160
San Mateo .............$324 $458 $714 .......260
Santa Clara ...........$302 $422 $618 .......195
Solano ....................$149 $208 $188.........-21
Sonoma ...................$210 $294 $320 ........26
Bay Area ...................$258 $361 $421 .......60

Danaseb says

Idle time is the root of all culture and Bay Areans are far far too busy working overtime for their mega mortgages.

Just go to Dolores Park any weekday in the middle of the day. It's a party all day long as long as the sun is shining.

Those are renters in Dolores Park. The ones whose over priced apts have been spliced and diced to fit as many techie turds as possible. Dolores Park is the rec room for all those without personal space, at $1000 a room a month a pop!

Repeal prop 13!
Ubber tax absentee cutthroat landlords!
Vacancy control now!