How will the California drought affect real estate prices in California, and more specifically in the Bay Area, in the next 30 years?

The Dust Bowl of the 1930s is worth researching. It's otherwise impossible to correlate a 500 year drought against historical real estate prices in the years after such a drought. https://en.m.wikipedia.org/wiki/Dust_Bowl There is also a Ken Burns video on the topic that is worth watching. Nobody's answer is free of bias. That includes my own. Consider the source and their inherent bias, in this case, from the real estate industry. "Never ask a barber if you need a haircut." -- Warren Buffett

I collect crystal balls and magic wands,  but they're no help here. We will have to make dramatic changes in how we landscape our properties. We will no longer see lawns and lush landscapes. I think we'll have to develop gray water systems for landscape. Perhaps build cisterns to collect rainwater when it falls, and be prepared to pay much more for water.  Housing prices will stay high because we have more people coming to work here than we have housing. Add in that San Francisco is a world-class city and there you have it.  The drought will make everyone change  the way they use water and if they don't change, they'll be shamed. That's my humble opinion as a native and a Realtor selling homes on the Peninsula.

I believe that SF is fed by the Hetch Hetchy reservoir and would thus be somewhat insulated against water issues affecting prices. Anything south of say, Big Sur, would. http://en.m.wikipedia.org/wiki/Hetch_Hetchy There are MANY other issues that would affect Bay Area prices.

Let's anylize it from multiple directions. First, from an economic structure near the Bay Area the companies near the Bay Area are mostly technology companies. Note: the are more the developers not the manufactures ( factories need a lot of water so new factories will not set up next to the Bay if there is a drought, but factories brings the most jobs, so no jobs means no people, means no shortages for houses, and thus no competition for prices) So, back to the topic, based on the companies near by, I do not think the drought will have an effect on Housing. Second, from an environmental side. High temperature leads to better beaches (possibly), this could potentially raise the price because people want to move to somewhere warm and dry, especially old people with joint problems. But on the other hand, A raise in temperature may have unexpected side effects, extinction in a particular specie can result in over flow of Algee or other harm that could drive people nuts. After all, with more sun, Algee in the ocean will reproduce so much faster. Adding on to that, with a drought, the water level will decrease, the exchange speed of underground water will also be slow. Some might argue Bay Area can put water from other reserves, but I think that will raise the cost living by an significant amount. This will drive companies and people out of the town, thus lowing the price. I think....that's all I have right now.. Hope it includes most of the points Best of Luck :D