Where do you think a lot of those people are going when they leave CA? We bought a house in 2001 for $105K, after the housing bubble in 2008 it dropped as low as $60K in value. In 2019 we sold it for $148K. Prices here are continuing to rise. Tons of housing development going on around here and they can't keep up with the demand.
bought a cabin on 5 acres in the desert for 24K in 2009...
my neighbor's place is 1/2 the square footage on 2.5 acres, and just sold for 384K (she bought it for 10K and spent 65K fixing it up)
I'm afraid to even look at estimates on mine now- this bubble is crazy and if I cashed out, not sure what my options would be to start over with that $$ somewhere else. property taxes scare the hell out of me. the last thing I want to do is buy in to something that is supposed to be mine, just to find out I cant afford to "keep" it...
almost thinking I need to look into decent paying jobs in the area and just move out there to the desert- at least the stupid CA property tax is based off the original low sale price... ????? hell i don't know.