That’s not misallocation. House prices are not meant to be uniform. It’s based on supply and demand.
The (arguable) "mis-" part is that while it's normal for some property to be worth more than others, and the housing market is functioning as it should given the parameters, we have chosen to make the supply highly inelastic in desirable places with predictable outcome.
Four Silicon Valley companies -- including Apple and Google -- have agreed to pay $415 million to settle an antitrust lawsuit that accused the companies of conspiring not to hire away each other's employees.