Contrary to popular belief most Californians are just like people in the rest of the country. They just want to work, play, raise their families and if possible, own a home. A two bedroom, one bath 50 year old starter home in my town is 300k if you're lucky enough to find one. Add to that the state taxes and high home owners, most young couples or retired people who would be living in those homes have no money left for the high cost of earthquake insurance.
So move to a different location? Leave our jobs, our families, our life and move where?
Tell me about it. I live here; see my Contact info.
I own one of those 50 year-old starters; a 3 & 2 with single-car garage that I expanded to 1440sq. ft. A neighbor listed the same original floorplan at $485,000; it'll probably get bid up to over $500,000. All they've done is keep it nice and convert the garage to a den and laundry room. It's nuts.
Move to a different location? I've thought about it. Saw a 3000sq. ft. 5 & 3 with a full basement, modern everything, double-pane windows & 3-car garage in Overland Park, KS for just $298,000. Did I mention the 2/3 acre lot?
Danged tempting, some days, I'll tell you, but my real estate is my best investment, and I'd be crazy to liquidate it, now.