It doesn't except through an extreme reset. Think civil war/revolution.
“And how does that ever get fixed? The current owner likely paid $1.5 mil, and if real estate prices ever scaled back to something realistic they’d all be plunged into bankruptcy. “
With a massive collapse. The jobs will leave, and with them the upper middle and upper class. Silicon Valley peaked, and is falling now. Remote workers are on the rise.
It’s not going to end well for CA.