If you look at the trend for all Bay Area cities over a similar period [1], you'll see Berkeley is pretty much in line with the overall trend.
Now you can argue that's because of greatly increased development, but I don't think that applies to SF (or SJ) and it doesn't match the Berkeley timeline anyway.
Yeah, the specific contribution here is tracking a stable cohort of existing housing, not the entire market, to show the effect of new construction on the price of older housing.
Now you can argue that's because of greatly increased development, but I don't think that applies to SF (or SJ) and it doesn't match the Berkeley timeline anyway.
[1]: https://www.sfchronicle.com/projects/sf-bay-area-rent-prices...