They keep increasing! That's right over the years no matter what drama in the world occurs, both the Bay Area rental market and airfares increase!
Do you remember;
1/ Savings and loan scandal 1987 rents increased
2/ Loma Prieta earthquake rents increased
3/Oakland Hills fire rents increased
4/Russian economy crisis (you forgot about this one) rents increased
5/Tech bubble rents increased
5/911 rents increased
6/ Financial collapse rents increased
Honorable mention to invasions of Iraq (2).
In all cases residential rents in the Bay are increased due to potential buyer fear leading to delays in decisions to purchase which drives demand for an ever dwindling supply of rental housing. This makes real estate one of the most bullet proof investments you can buy!