I'd venture to guess that the fundamental drivers of prices remain founded on desirability of the state relative to other states. These policies are certainly m

I'd venture to guess that the fundamental drivers of prices remain founded on desirability of the state relative to other states. These policies are certainly making it worse, but they are priced in, one way or the other. You might think of it like a luxury tax. The item still sells at the total price, even though there is significant cost to acquire it. Either you can afford a $500,000 home or you can't. If you can, then consider living in California. If not, you've likely got 48* other states to choose from. * Per Zillow, Hawaii's median home price is $571,000, is higher than California's $472,000.