It's an interesting point. We did see a fair amount of covid transplants in San Diego. I think the WFH covid shift in migration was more or less short-term and the worst is behind us. We've always gotten LA and SF transplants, just slightly more during covid. San Diego has actually lost population overall.

I don't know that I'd assume San Jose correcting before San Diego implies a preference though. It could just be a reflection of current inventory levels. I don't think we'll get back all 38% of the over-valuation in San Diego, but we should revert close to the pre-pandemic price-to-income mean which will come in the form of lower prices and/or higher wages.