The UNreality of the real estate market in the Silicon Valley and Peninsula markets is such that this isn’t just a ‘red hot’ market, it’s a “Ghost Pepper hot” market! When you have an area that is landlocked like the San Francisco Peninsula and Silicon Valley and there isn’t any more land that is going to magically appear, and you have the hottest companies on the planet wedged into an area the size of Delaware, it creates the “perfect storm” for residential real estate.
Will Rogers said “put your money in land, because they aren’t making any more of it!” He was certainly right for the Peninsula and Silicon Valley. If you are planning to live in the Bay Area, you have to stake your claim here sometime, so find what you can and buy it. Even if this market is a “bubble”, all you need is to give it some time and in 10 years, I bet you’ll be happy you own your own piece of land here.