Not really, the major factor is the artificially manufactured inability to build new high density living spaces.

Current homeowner/landowners have no motivation to allow new housing development from being built. It would just lower their homes value and decrease rent from current landlords. So they lobby or help elect local politicians that place policies that make it increasingly harder to develop new properties.

California is huge, and most of the cities are already sprawling over huge areas. You could probably shrink a city like LA to a quarter of its size if you just increased vertical construction. There's just no reason for land developers to build anything that devalues their other properties.