I don’t think people from Europe see soCal as an investment opportunity due to the weak dollar, because it still doesn’t offset the inflation appreciably. It’s too far for a holiday home, and immigration is not open to many people. They will tend to look to Florida (weather, beaches, distance etc), or for appreciation in developing markets (Eastern Europe). It can cost $000’s to fly a family backwards and forwards to CA whereas super cheap airline travel in Europe can cost a fraction of that.
