SFGATE: "Orange County faces a population exodus. Its housing market couldn't care less."

Home and Real Estate
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https://www.sfgate.com/la/article/orange-county-exodus-housing-boom-19717302.php

For the record, Clark Howard has said the following:

Because the person who sells you their house, they’re going to go somewhere and be at the mercy of what the market’s doing now with higher prices and higher interest rates. Yes, they get the elevated amount for their home, but now they’ve got to go to another home with an elevated price and there’s no bargain mortgages anymore.

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9/04/2024 Yes, the gain they realized on the sale of the home, most likely will turn out to be a wash because, IF they are going to buy another home, that gain will be used up in the elevated cost of the home they might buy.
The only way they could possibly get a little ahead, would be if “bargain rate” mortgages return.

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Question: (not being snarky)

So how will the market adjust for this?