I just bought a house for 900k outside of LA 30 minutes from Malibu. We could have lived in an apartment easily enough but I liquidated 50% of my crypto and stocks to use as down payment. The house is already worth 75k more.
It was always the dream. I have no regrets. Yes I could have retired to somewhere cheap but I'm only 34 and my skills are in high demand seeing salaries in the 200k+ range.
They are building housing here but so many people want to live here that no matter how much they build it will just all be absorbed immediately.