When the housing market collapse comes you wont be able to give your house away.
My brother went through a housing market collapse in Ca in the 90s. Lost his a$$. He finally got out but it set him back years. I dont think when the next one comes there will be any recovery. LA is going to wind up as one big barrio.
People are afraid to pack up, leave their jobs and make temporary sacrifices for long term security. I have friends in CA that say “in 5 years when I can retire I’ll leave”. They don’t understand; they don’t have 5 years. I urge them to pull up stakes, sell your home, find a better place... on YOUR terms! Because in 5 years when they are driven out there will be nothing left to salvage, they’ll have to walk away from their devalued homes without the equity they had been investing in their whole adult lives, and being of retirement age they’ll have difficulty finding employment and starting all over again elsewhere. It’s a fear factor that needs to be addressed.