Real estate prices are getting out of control in many of the US cities with healthy job markets, it's not just the Bay Area.
Home prices in my old neighborhood in Louisville, KY have skyrocketed in the last several years as "shotgun" style homes have become trendy in the area. Last time I visited, I saw a one such home on the market for about $350K, which would've gone for roughly a 3rd of that about 15 years ago.
The housing affordability is being felt in a lot of places, not just the west coast.
It's skyrocketing across the world. Sweden for example has seen levels of growth in real estate prices that rivals Hong Kong, the Bay Area or London.
There are many, many, many reasons why but I wouldn't expect the prices of homes across the world to drop when basically all interest rates have been at rock bottom for a decade. People with capital to leverage really have it made.
Home prices in my old neighborhood in Louisville, KY have skyrocketed in the last several years as "shotgun" style homes have become trendy in the area. Last time I visited, I saw a one such home on the market for about $350K, which would've gone for roughly a 3rd of that about 15 years ago.
The housing affordability is being felt in a lot of places, not just the west coast.