Why move if you can entice people to move into your back yard with all that money and not have to go anywhere?
And, weather doesn’t adequately explain the high CoL anywhere outside California or Hawaii. “It’s where the jobs are, so everyone wants to be there does,” and it also explains California. (Hawaii is special— it’s an archipelago, so, cost of shipping goods plus weather is really the best explanation, given the lack of a compelling employment story.)