I agree with your sentiments of being a hot market.

The main issue with downturn is sentiments.

@Mike Fletcher  buyer sentiment is very real..

I agree with your sentiment, but there's a big difference between an "investor" and a "business owner" in terms of expectation, skillset, and psychology.  

Its a subliminal thing, but just my sentiment.  

(Ok so I made that up but the sentiment is there:)   ).  

I held it for a few years and then sold it as part of a sweet deal to a great uncle who had sentimental attachments to the property

I have no interest in keeping the property and it has no sentimental value to me... but renting it out and or selling and trading up has to be a better play than selling and taking 80+K in tax bath...

I’m generally feeling your optimistic sentiments too, but, it’s for a *highly* SF Bay Area centric market only!

I realize many of things are propped up with stimulus right now but as long as unemployment remains low and consumer sentiment stays high, I don't see much of a slow down for this area in real estate.