California's home sales are down 31% relative to the previous 18 years, according to The California Post. High interest rates are preventing buyers from finding affordable financing, and sellers are reluctant to swap their existing mortgages for new mortgages at higher rates. This is not solely due to the Fed, but also to the insurance market's restrictions on premium increases and increased insurance costs. Many new real estate taxes, like Measure ULA in Los Angeles, have also slowed sales at the upper end of the market. High-end sales, which account for much of the profit in residential real estate, have affected the whole market. California's housing market is also losing value due to low inventory and high unemployment. The state's stagnant real estate market is a warning sign that we need change, now.