Try to talk to more relators and you will understand.
A couple of examples: An American from east coast bought a 3M house in Palo Alto with cash for his son, a football player at Stanford.
A middle esat man bought several houses with cash in Palo Alto because weather is nice and schools are good.
A parent bought a house next door with 1.5M (listed at 1.28M) for their 12 year old kid.
A french guy was looking to rent in old palo alto area but no rental available for he has to buy one so he can stay for 3 years for his work.
Not only working families are buying but in nice areas, plenty of money from worldwide (I did not see much chinese money, honestly) are coming in.....
So the price might go down, but not much in the nice areas.... in my opinion
