People are leaving in droves because of what CA has become. CA is expensive because there are people stupid enough to pay as much as they do for housing. Current market value for my house right now is about $1.2MM. I would never pay that much for it.
Part of the California housing market is the real estate industry prostituting property and marking up housing prices incredibly over priced for decades and pushed that line the whole time. Cities liked the property taxes and just about the only people who can afford large areas of California are in the upper 5% income bracket.
It's really not a supply and demand thing in California like regular markets. The cities and real estate of course will not admit that they continue to rape people on house prices.
Nothing in this country can justify paying 3 million for a 1,900 sqr foot home. And that is with no backyard in the middle of an older sub and short distance frontage to road.
Do you think it's realistic that a nobody rap punk can buy a 'mansion' on some hill for 3.5 million three years ago then put it on the market for 20 million?
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