They are not overpriced. When eng with 10 years of expirience can make 250base + 500k in stock per year (or 4 years can get 1M in pre IPO lyft stock), it is hard not to see why Bay Area houses are so expensive. Area with money coming in will become more expensive to live in.

Housing price in SF are tied to valuation of tech companies. Valuation goes up, house prices go up.

I actually think houses in Bay Area are cheap.