I don't necessarily live in a "tech" city, far away from California.
Many people my age own their homes around me. They work in HR, they work in finance, they work in construction, they work as insurance sales.
The median home price for a lot areas around me is ~$500k. Meaning there's also a lot of homes <$500k. And I'm in one of the largest metro areas in the country with a bus stop right outside my door, so it's not like I'm in the sticks.
Many people my age own their homes around me. They work in HR, they work in finance, they work in construction, they work as insurance sales.
The median home price for a lot areas around me is ~$500k. Meaning there's also a lot of homes <$500k. And I'm in one of the largest metro areas in the country with a bus stop right outside my door, so it's not like I'm in the sticks.
https://fred.stlouisfed.org/series/RHORUSQ156N
2000Q1: 67.1%
2024Q3: 65.6%
Go back even further to 1990Q1, and it was 64%. It had a peak of 69.2% in 2004Q4. In the 80s it was pretty much 63-64%.
Get out of California.