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Where Millennial Dreams Die.

Fifty percent of America's most expensive starter home markets are in the socialist hellscape of California. Don't lose hope, though: moving to a free state is always an option!

Published July 28, 2024 at 4:30am by Sara Chernikoff

Commie States Getting Too Expensive, Even for Rich Liberals

Can they keep enough people here? Or do more people just keep moving away? —Logan Mohtashami, HousingWire analyst

It's no secret that liberal states like California and New York are becoming more and more expensive, and now, even the rich liberals who call these states home are feeling the burn. According to a new report from Zillow, the typical starter home in over 200 U.S. cities is now worth $1 million or more. That's way above what the average American can afford, and it's a sharp increase from just five years ago when there were only 84 cities where the typical starter home broke the million-dollar mark.

The Great Escape

It's not just the housing market that's pricey in these states. The cost of living in general has skyrocketeds, and it's driving residents away. In California, 40% of residents are considering moving out of state, and who can blame them? When you have counties like Santa Clara and San Mateo leading the nation in median home prices at over $1.5 million, it's no wonder that people are looking for more affordable options.

The Root of the Problem

So, what's causing these sky-high prices? Well, part of it has to do with restrictive building regulations and low inventory. There simply aren't enough homes being built to keep up with demand, especially in states like California. And, of course, let's not forget the impact of good old inflation, which has driven up the cost of just about everything, including homes.

A Silver Lining

There is a bit of good news for prospective buyers, however. Realtor.com’s chief economist, Danielle Hale, points out that there's been an increase in the number of smaller, more affordable homes on the market, which gives buyers more options and negotiating power. But, let's be real, if you're looking to buy a home in one of these pricey states, you're still gonna need a pretty penny.

So, there you have it, folks. The liberal utopia of high taxes and regulation is driving away its own residents. Maybe it's time for these states to loosen the reins a bit and let the free market work its magic. But who are we kidding? They'd rather watch their states burn than admit that conservatives have a point about the economy.

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Read more: Starter homes are worth $1 million in 237 U.S. cities. See where they're located.