No one in San Francisco is arguing about whether real estate is expensive. There is, however, some debate about how to characterize the astronomical prices. Now that median home values in San Francisco and many other parts of the Bay Area have returned to pre-recession highs, some observers are compelled to ask: Are we in another housing bubble?
Real estate experts Jed Kolko and Tim Cornwell spoke to this question at a recent SPUR lunchtime forum. Both agreed that we are in the midst of an affordability crisis as opposed to a housing bubble