NIMBYism, density restrictions, etc, are largely "universal" US policies, vs liberal/conservatism splits, so it's the demand that's the difference here between the rest of the country. Note the difference in population density between a Houston and a Los Angeles. LA just ran out of neighboring land to sprawl into first, yet the demand kept coming...

And on top of it, there's a mismatch between where people want to live and where jobs are available, so you've got homeless in CA cities and unfilled jobs in the middle of the country...

Those prices are increasingly starting to cause more and more people to leave, but still predominantly lower-and-middle-income people - and the demand and prices are being driven by the high-income or high-wealth people - so I'm not sure it'll change much.