I think the problem in California is that investors can go in and buy housing at unsustainable prices, and just rent it out, since their long term goal isn't to

I think the problem in California is that investors can go in and buy housing at unsustainable prices, and just rent it out, since their long term goal isn't to house themselves, but to have an asset that has a fixed return value at a near minimum, especially given the taxes hardly increase year over year.