California House Prices Plunge Up to $400k as Insurance Crisis Deepens

"Now the property is going for $2,695,000—the lowest asking price it has had on Zillow in the past three years. The public record of the property shows it was sold for only $40,000 in 1994, but between 2021 and late 2023, the asking price remained steadily above the $3 million mark."

That's almost disgusting.

Going from $3.1M to $2.7M is not relevant to most. The average (sic) CA home price is $787K (Zillow)

TLDR (in my estimation)

Better homes are nearer trees and hills.

I used to joke that the splendid homes in the Saratoga hills had a view of the industrialized valley, whereas valley dwellers had a view of the splendid Saratoga hills.

The article focuses on such homes, and insurer Crestbrook, “which cater(s) to wealthy clients.”

However, the smaller number of remaining insurers will no doubt affect everyone.