Actually, there is a lot of scientific evidence that living near or visiting the water often has immense physical and mental health benefits. I know we’d never want to be far from the ocean–it’s part of our daily life.
As far as other markets declining for a variety of reasons. Imo, if the locations meet the needs of those who moved there for long-term reasons–then they probably don’t care–since they are living the lives they want to live.
If others moved for other reasons, or are investors, they may get burned, but only time will tell how it all plays out.
Not everyone can or want to live in CA, and I give people credit who honestly evaluate their life goals, and make changes accordingly. Better to be honest with yourself than trying to survive in a place you and your kids know you can’t afford long-term, with little hope of an early or stable retirement.
