[trailbits]

When wages go up, rents go up. For rents to go down you either have to have more housing or less people in a given area.

[crooked-v]

And put "California" and "more housing" together and you mostly get memes of YIMBYs laughing maniacally and crying while NIMBYs sit on piles of money.

[nrclark]

Or rent control.

[icelancer]

Rent control externalities are well-documented; long-term serious problems occur due to them, not the least of which is lower affordability.

Short review of the research can be found here:

https://www.brookings.edu/research/what-does-economic-eviden...