Yeah, most of the issue is people, who've moved out of specific areas of California as the tech companies they work for seek greener pastures, are arriving flush with cash and capable of upending the local housing economy in Chinese curse interesting ways, between a lack of supply and a demand for housing - I saw an article saying at least one homeowner was getting unsolicited cash offers for his house. On a regular basis.
"You know how parents tell you everything's going to fine, but you know they're lying to make you feel better? Everything's going to be fine." - The Doctor