When the mania ends, and it always does, home prices will return to a level where the median working family can afford to pay for the monthly payment based on a median salary. I assure you that is much, much lower than $1,300,000.
Incredible San Francisco Median Home Price Chart
What you see in the chart below of San Francisco home prices is a mix of high end speculators, technology money and a flood of overseas investors bidding up properties, watching them soar higher in value the next month, and then bidding them up again.
