Just a nit pick. It doesn't necessarily mean fewer people want to live in Texas. SF and the Bay Area in general have a hard constraint on city size, limiting th

Just a nit pick. It doesn't necessarily mean fewer people want to live in Texas. SF and the Bay Area in general have a hard constraint on city size, limiting the available inventory (and pushing up prices). In Texas cities can spread indefinitely, thus keeping costs down. It also could be that fewer people with lots of money want to live in SF and bid against each other.