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We need to have a talk about how real estate works. Yeah, the homeowner selling their place may have enjoyed some upside, but it is wrecking havoc on young folks and young families who have yet to purchase homes frozen out of the market. Moreover, local builders, buyers, owners, now have more limited access to captial because Californias who are cash heavy due to their recent selling of their house in Cali can simply pay cash instead of having to borrow money. Local folks can't compete with that.
Regardless, it doesn't matter. A state can't actively stop Cali folks from coming to their state for jobs and such. Its going to happen whether the locals want it to or not. At least its worth understanding a bit of where a local economy is coming from before one simply calls them idiots.
I know how real estate works. I'm not sure that the other poster does, as he's making villains of people who just want a place to live.
It's locals that restrict development via NIMBYism.
"Who needs intelligent growth? Let the next city over GET BIG!!!"
It's locals that go with "Screw you, GOT MINE!"
"Why should we build more housing? I've got my house. The value is only going to GO UP!!!"
And Brexit was all about keeping "the other" out.
"If only those people who got priced out of CA would just stay homeless!!! How dare they move to this awesome place that we've built."
I mean, in the end, real estate boils down to demand. Real estate in high demand areas will always have value. SF is the example everyone uses because it's true. If you make a place desirable, other people will want to come.
Outside of pricing, how do you determine who has the "right" to live in any given place.
America never had birthright land ownership. That was an old, European thing.