Just like a boomer, screwing the young for the sake of the old.
It is not hard to see what is happening in California.
The 1940 Texas population according to the US Census was 6,414,824. The 1940 California population according to US Census was 6,907,387.
The estimated 2016 Texas population was 28,240,245. The estimated 2016 California was 39,309,017.
Do you guys see a pattern here? What has happened is not because old people are taking advantage of young people. And, the home prices in California are not obscene.
What is happening in California is that smart rich people young and old are visiting California from all over the United States and all over the world. When they see the perpetual blue skies and feel the great weather, they make a decision to invest in a home here. Someday in the future, there will be 60 million people in California.
I’m not slick; if I was I would have kept the 2600sf home that I bought in 1970 in Westminster for 42K. Instead, I sold it 2 years later for 62K and moved out of state. The slick guys are the ones that kept their homes in OC…