We had some discussions on the percentage of correction in home prices in the bay area after the dotcom bubble burst. Here is a good link that describes what happened. Housing did not drop much even though the stock market crashed (e.g. Cisco down 80%, Amazon down 90%). But the Great Recession of 2008 was a different story because it was due to bad housing loans.
The recession in 2001 dropped the average price for single-family homes 19% from its peak ($750,039) in the second quarter of 2000 to the low ($605,286) in the fourth quarter of 2001; compared to the 48% drop from the housing market bubble peak ($1,083,930) in the second quarter of 2007 to the low ($568,542) in the first quarter of 2009.
Lesson here: Sell stocks and buy Bay Area homes until you see loans given with zero down payment and zero income.