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Vegas does not have the industry to support all the growth but its getting better. CA has he industry giant to support and there is not too many places to grow but expansion outward just like we have done in the past 60-100 years.
People are still coming from all parts of the US and the world. I meet some new neighbors in our neighborhood and of all the ones I have met, only 1 is from CA. All of them are from somewhere east of us. Out of those, they have only been here for 10-15 years max. That's really the main drive of the housing market. They have to live somewhere.
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