Over the years I've constantly heard about how expensive X city is. But you look 10 years later and it's even more expensive. If the city has jobs and the weat

Over the years I've constantly heard about how expensive X city is. But you look 10 years later and it's even more expensive. If the city has jobs and the weather is relatively nice versus the rest of the country then don't expect the home prices to drop for any long period of time. What ends up happening is that a set of people that can't get the right paying jobs get priced out and those that have the right skills move in. We see it over and over again. You would think that technology would have disrupted the situation but it has not. My thinking is that with the deliver anything in 2 hours apps. It will be easier for people to move into an area where they don't have all the restaurants and small shops people usually like in the neighborhood. They can just order it. Therefore, making it easier for prices to stay up as long as there's a way to pay. Los Angeles is one of those cities that has long ago priced many people out of being able to buy a home. So what has happened is that people commute into the city from cities around LA. I don't expect that to change in most of our lifetimes.