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      05-23-2020, 02:32 PM   #5
BMW CCA Member
exE36M3's Avatar

Drives: 2015 435i M Sport
Join Date: Jan 2018
Location: NorCal

iTrader: (4)

Two words... the internet.

If you look back from an industry & economic standpoint, all the income being generated was from manufacturing, products, retail, and services... and it was pretty stagnant.

And then the internet. Wages in this new business were high because few knew how to do it. And the tech centered around more progressive business areas. If you follow tech, money goes with it... higher standards of living, higher costs of living.

A workforce getting paid higher wages will pay more for a house.
Keep housing inventory and turnover low, price goes up.

I've been in NorCal almost since day one (outside of SF). Believe when I saw, I've watched the walnut orchards become houses become zillion dollar homes.