California migration is a result of two things: high taxes and lack of supply keeping housing costs high. Eventually both of those things can and will change. Pretty soon Californians will keep moving until there are no millionaires left. And as more people
Leave California the number of available units will increase and so costs will go down. We are already seeing this with more work from home telecommuting so that people no longer have to live on the Bay Area and LÁ. Vacancy rates in apartments are increasing. Price has already begun to come down.