Talent will not; nothing is more common that unsuccessful individuals with talent.

CA is still attracting tons of top tier talent (engineering, finance, medicine, bio-tech) who earn a high enough wage to afford a quality life in CA, which in turn drives prices up.You less frequently hear stories from the engineer/medicine/bio-tech families .

Basically the short version is that money only goes so far, but it's benefits outside of money that gets you top talent.

I can already see North Austin developing its own downtown with bigher tech offices than the main downtown because of space availabilityand tech talent up North.

The companies that will stay down after a recession are the ones that went in weaker, and had to lay off their core talent, give up critical assets, end up buried in debt, or didn't have the funds to develop any new products while their competitors did (ie, you should have bought those competitors instead).

The flip side is shallower talent pools in the low-cost locations.

Joint Venture with honest and talented operators with realistic numbers. 

From their site...Local ExpertiseWe hire the best local talent and work with area organizations to promote tourism and economic growth in your community.Unparalleled serviceBecause we offer our staff a year-round living wage and plenty of advancement opportunities, they build strong relationships with our homeowners that last for years.I really do appreciate everyone's input about property managers in general, but I'm really looking for feedback from anyone that has personally used vacasa. 

"People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents."-- Andrew Carnegie“I'm a pessimist because of intelligence, but an optimist because of will.”Antonio Gramsci@Nathan G. has the balance right.

Not to mention, companies are leaving California b/c of this same reason --- it's hard to keep talent if that talent cannot afford a home+good schools in the area.I say this as a lifelong Californian who loves California and knows the state inside and out -- but have moved to Texas about six years ago.