It calculates in inflation and elaborates on that calculations used.

The inflation that has been held back since QE2 is about to be released as soon as Trump undoes all the regulations around lending that have held banks back from putting cash to work.

Third they mention only office and multifamily and then talk about the New York market which like California is an appreciation driven market.Those places have been inflated in many areas for awhile so no earth shattering revelations there.  

We are seeing a trending downwards of median price for the 3 months trailing September.This is a market correction for inflated house prices, home sales have dropped 7% year over year.

If I were you", I'd look to leverage my money at these low rates as a hedge against the impending inflation coming as a result of Quantitative Easing.

Just my 3 cents worth adjusted for inflation.

Yep, 136 hours in two weeks. 118 is my highest with commuting.Me and coworkers joked about putting inflatable mattresses in the break room.

On average we have 3% inflation.

There is also bad info out there to inflate the purchase price. 

That's not the case in many other markets where the variables in the same math equation are different.The big question, AFAIC if you're looking at B&H in San Diego right now, is what rental rates will do if median income (and financing rates, and inflation) begin to rise.