Look at Bay Area price-to-rent ratios - some of the highest in the nation. California property prices are heavily driven by speculation. We have laws like Prop

Look at Bay Area price-to-rent ratios - some of the highest in the nation. California property prices are heavily driven by speculation. We have laws like Prop 13 that incentivize buyers to take out the biggest loans possible and put NIMBYs on steroids. If SV workers move to a state that welcomes newcomers instead of punishing them don't expect the same meteoric property increases.