It’s all California money causing inflation elsewhere. Somebody must be buying their homes back in California. Who would buy for such high prices when everybody is leaving ?
Foreign buyers. Where do you think trillions of RMB are going?
Rich chicoms are buying the CA homes, desperately trying to get money out of Chine.
We purchased a home in late 2003, Fairfield Ca. 299,000. Tiny but newer home. Left California late 2005. 425,000.
The new owners lost the house -foreclosure- a year and a half later. It’s had 4 owners since then.
We got out just in time.
Asians