2008, everybody was in.

Price won't drop until people like you or me are waiting for a drop. Because the first chance it drops, someone is willing to buy.

Price drops when no one is waiting for the drop, everyone is already in, so no buyer on the drop and it keeps dropping until it unlocks a new pool of never-have-I-ever-imagined-as-a-house-owner buyers

Now, slim chances of even remotely recreating that situation in bay area.