Coming as a surprise to perhaps no one, Bay Area's persistently high housing costs come from a multitude of factors.
If you thought Bay Area home prices were out of control already, just wait for this spring season. Experts say it's about to get worse."These are the ramifications of the policy choices that we have chosen," said David.
David says California, and the Bay Area in particular, has built too little housing for about 50 years. It's gotten so bad in the Golden State that we alone now account for half of the entire housing shortage in the U.S."I've been in situations where the successful offer is maybe 300,000 to 500,000 over asking," Wong said.
Wong says the hot housing market means buyers are often times facing dozens of other people all interested in the same property.
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