One reason is that the economy has done so well in states like California, vs. depressed, mismanaged poverty-stricken red states, that they can live much mroe cheaply. You could sell your $1.2m place in Cali and buy a much nicer place in Texas and have $700,000 left over. Of course, then you’d have to live in Texas. It’s not bad if you have AC, work remote and just never leave your house.