We like real estate and its price appreciation, but seems to be going out of control like the way BITCOIN is going !
https://www.redfin.com/CA/Sunnyvale/636-Santa-Paula-Ave-94085/home/814481
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I think the buy price was way under. I know of a friend who bought couple blocks north of this, for 1.1 ish at the time.
This house is appropriately priced. Yes, price jumped more than 50% in less than 3 years…
Since 2013, prices in South Bay are rising at 13-22% depending on neighborhoods. More expensive houses rise slower. Not good to buy in less desirable neighborhoods now unless you think the spillover is permanent. Less desirable neighborhoods have higher beta.
Why are you complaining? This is your opportunity to start a “Sunnyvale Rocking The Overbids!” thread!!! 
IMO, such claim leads to irrational exuberance! It is almost like “Hurry Bitcoin crossed 11000 !!!”
When others are greedy…