At the peak of the bubble, the house next door sold for $740k. They sold it a few months ago for $650k.
So if the house was in bubble before, and it's already approaching that amount. Yeah, very possible for another bubble. And considering in So Cal, they are saying rents are unaffordable. It can very well come crashing again, with handouts for all again. Because nothing teaches people that they did bad, by saying it's ok, we will give you money to cover your stupidity.