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Where’s your data about the depressed housing price? Here’s the data from the census: https://www.census.gov/hhes/www/housing/census/historic/values.html
Median home value: 2000 1990 1980 1970 1960 1950 1940
United States $119,600 $79,100 $47,200 $17,000 $11,900 $7,354 $2,938 California $211,500 $195,500 $84,500 $23,100 $15,100 $9,564 $3,527