"Working-Class Towns Across the U.S. Transforming into Million-Dollar Cities Amid Housing Crisis"

The ongoing housing crisis in California has led to a significant increase in home prices, with many working-class towns now seeing median home values exceeding $1 million. Cities in Orange County, San Diego County, and Los Angeles County have been particularly hard-hit, with some areas experiencing home price growth of up to 17%. The supply and demand constraints in Southern California, coupled with limited undeveloped land and intergenerational home ownership, are contributing to the soaring property prices. California now has 210 cities with median home values over $1 million, accounting for nearly 40% of such cities in the U.S.