I think the market itself will determine the future of real estate in CA. There will always be those who can easily afford to buy what they want, and others will be shut out, regardless of what anyone says or does not say, or wants or does not want.
Case in point. A couple of older members of the family recently passed on, and we had more cash offers than we would ever have imagined, with
30-day escrows. Over ten families who also made offers on the homes were completely shut out because they did not come in with cash, and most mentioned this had been happening to them time after time. Pure supply and demand. Accept it.
As far as having higher or lower expectations from a generational perspective. As a Boomer, I can only speak for myself, and probably most of my family and friends, but we wouldn’t trade our lifestyle for anything even close to the standards of living many are settling for today.
