If I was moving to Seattle to work in tech today, I don't think I could justify buying a home again. Paying $1.5M at 7% mortgage rates for a home that cost us $700k at 3% just 5 years ago hits completely different. $9400/mo vs $3000/mo. Even if you buy with cash, you're losing out on doubling your money every 7-9 years in the stock market with dividends reinvested. Homes typically track inflation. They're much better investments when leveraged. But who wants to spend $9.4k/mo for 30 years?