California is notoriously known for its expensive real estate, both rented and owned, and I am seeking legitimate and logical explanation of such exorbitant prices in here. I heard quite a bit of different explanations from both authoritative pundits and not very smart bloggers, to name a few: Fed interest rates are high Housing shortage Developers are hesitant to build because of strict construction policies Developers are hesitant to build because of high risks of fires/tornados/earthquakes...
