No doubt, no expectation to see 7% YOY for CU,past results does not mean future returns assured, but as you said you can expect low price area can pickup at this rate. It is very natural.
My main content is not about Cupertino (even though I showed CU posting), but to say Bay Area will have bright future for multi decades even after programming is done by automation. I see at least 50 more years growth.
Yes, many real estate people are area specialized. After your postings, I reviewed many Hayward locations next to Fremont which may pick up better appreciation.
In fact, after your postings and elt1 posting, I started looking opportunities in East Palo Alto, but homes are skyrocketing there too.
For investment purpose, Low cost and cash flow are the key.
When manch was thinking about 529 plan and how to fund, I was keeping Oakland and Hayward in mind to get a low cost rental to generate $1500 free cash flow and invest returns it in 529 plan.