Why are houses so expensive in california?

Building Less Housing Than People Demand Drives High Housing Costs. California is a desirable place to live. ... A shortage of housing along California's coast means households wishing to live there compete for limited housing. This competition bids up home prices and rents. read more

Even if you can pay for your house, you only benefit from the high prices if you are willing to sell and move to a less-expensive state or a smaller house. Those who want to move up to a larger house in California face as big an obstacle as first-time home buyers. read more

As shown in Figure 2, for example, home prices in California’s most expensive metropolitan area (or “metro”), San Francisco, are more than double the state average and about six times higher than Bakersfield, the state’s least expensive metro. read more

California's housing crisis is bad, getting worse, and isn't receiving the appropriate attention it demands from state lawmakers, reports the L.A. Times. The reasons are simultaneously very, very simple, and quite complicated: lots of people want to live in California, but California doesn't have enough homes for those people to live in. read more