An individual doesn’t stand to inherit the equivalent of a life time or labor because “their parents happened to live in California”.

They stand to inherit it because their parents worked hard their entire lives and invested an obscene amount in a desirable market. They probably made significant sacrifices to do this. Many of our families were here long before real estate started getting out of hand and contributed to building the economic machine that makes California so desirable today.

Newcomers absolutely deserve to pay higher rent and mortgage rates to live in the same place. They always had the freedom to invest in their own state or country.