Why appreciation matters in the SF/Bay Area
check out this interpretation of the case-shiller index over the last 30 years. Basically several huge, long run ups, and a few short, minor corrections. Tricky and challenging to get in, but this is how you make the big bucks folks!
http://thefrontsteps.com/2014/06/26/case-shiller-new-jump-in-bay-area-home-prices/