True.
However, do the math:
House in Ohio - $135,000
Winter Coat - $65
Gas Bill - $600 for the winter
Snow Shovel - $14
House in Cali - $472,000
Hmmm.
House in Cali - $472,000
Good point and it's true that in some markets here you might get a fixer upper for $472,000. Overall you don't get much for your money now if you're a new buyer.
I am fortunate to have purchased in San Francisco way back in the late 60s for just a few bucks in a bad neighborhood and an old triplex that needed work. I sat on that monster for 30 some odd years which allowed me to retire early and not have to ever worry about money again. It's all relative I guess. For me it worked out well. For new buyers it's a nightmare and for youngsters just entering the market it's impossible.