I think “what the market can bear” also has an effect.
I gotta agree with bsrsharma on this one.
It SUPPLY and DEMAND
All these characteristics(weather, job opportunities, recreation, etc) are simply factors which are considered by people that ultimately end up as DEMAND. The zoning, amount of available land, cost of construction labor, etc affect SUPPLY. In the end it’s simply supply vs demand. There are simply more people who are willing to pay more to live in California than Texas when all these factors are rolled together and as a whole people “vote” with their decisions on where to live.
