The SF bay area alone added over 500k more jobs than housing over the last decade. And it’s not like the area was known for having ample housing before that.

I think as more people were able to work from home, they moved to areas that were cheaper as they no longer had to be near california.

shouldn't that trend have reversed in the past year as coming in to the office is emphasized?

The trick with many RTO orders is that people are often exempt if they managed to move more than X miles from the nearest HQ.

Depends on how many people switched to fully remote jobs when faced with mandatory return-to-office

I moved out during COVID. But retained 2 properties as rentals, so people don't necessarily always have to sell.