At the end of the day median prices of mortgages follow median salaries seen in the area, and not everyone who buys a west coast house goes broke from it otherwise prices would decrease. Maybe your line of work isn't so lucrative on the west coast, but for many the bump in salary is more than enough to cover cost of living. Then factor in other benefits that might be locally specific, like noncompetes being illegal in california so you can leave a business to start your own immediately, or your property taxes being what they were assessed at when you bought the property despite market gains, or a stronger social safety net that comes from a state government that generates budgetary surpluses, and things might look even better over time.