You might ask why people of lesser means don’t head to less expensive areas than Santa Barbara — it’s a fair question, and I’ve written about people who eventually did make such a move. In Santa Barbara, the answers I got were the same ones I’ve heard elsewhere in coastal California. People hold open the option of leaving, but many are connected to specific places by history, family and employment connections, and they’re not quite ready to give up on a turnaround, move to a place they don’t know, and start over from scratch.
Besides that, local economies rely on those of lesser means, so where are they supposed to live?