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I am most sure if NYC and SF are too hot at the moment.

It really is hard to say what will happen as the banking system is so different today than in the past. I do think we will see continued leaking of all the new money that is being printed out into hard assets, but beyond that I have no idea.

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Show me another place with 100,000 100k+ jobs.

There aren't many markets like this in the US and they're all expensive. NYC, Northern Virginia/DC. Overheated, maybe, but not by much.

Yup and clustering effects are still real. Eventually we'll come out of the pandemic and companies will want to be near there biggest customers.

To the GP's comment, this could be an artifact of a slow-leak inflation. If inflation leaks in some markets faster than others you would see those markets increase in cost and income faster than the average. Boston area condo prices rose 32% from April 2019 to April 2020, at best income increases are keeping pace.

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