I borrow today’s chart from a recent presentation from Peter Thiel (who I am having dinner with tonight in Palo Alto, as it happens). A close look reveals that the previously “red hot” housing market in California actually lags the truly dynamic metro areas of the country by a lot. In his full talk at the link, he explains how progressive “tolerance” of California’s homelessness and crime actually serves the self-interest (and housing values) of the progressives who supposedly “care” about the downtrodden.
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