Between the years 2001 thru 2007 the real estate market was going sky ward with no indications that things were about to change. But it did. Between 2008 though 2014 maybe 2015 the market took a nose dive and over the last few years it has been developing a bottom.
What can one expect in the coming cycle, how much and where. Starting right about now and continuing to about 2021-2022 the real estate market will again appear to sky rocket. The how much is a little more touchy. It depends where you are located.
The interior of California will gain but not significantly. Those who own beach property will see their properties zoooommmmminnnnngggggg. It doesn't matter where you live, but if you are close to water you will do extremely well in this next upturn.
How much? If history is any indicator some area (beach) will realize a higher top then the previous top. Therefore it is possible that one can realize a 50% increase in their property values over the 2007 top. But its LOCATION,LOCATION, LOCATION that counts.
Why will prices exceed the previous tops? Simply supply and demand. In the last down turn many thousands of people lost their homes. Now these same people, immigrants, plus a new generation will be looking for a home and the supply is limited.
Other parts of the Country will face the same situations. Florida will be similar to California. Parts will go crazy and others not so crazy. Texas will continue to grow; Oklahoma, Mississippi, Tennessee, Alabama, all will do well. Michigan can go gang busters but be careful where you buy. Detroit I think will be an excellent investment area.