it's more of a quality of life argument imo, you buy a mansion in Kanata (or on the beach in florida), and then sell it in 7 years or however long you signed for with decent growth every year, no capital gains if it's your principal residence (not sure how the tax situation works in the states so I'll defer on the florida side), not really a sunk cost or anything,
Yeah it's more about the upfront cost of a down payment and carry costs while you use the asset. You're likely to make money in the long run but more expensive housing means more penny pinching (in the lightest sense of the term) elsewhere.
Florida is similar although it's not an absolute tax holiday. Think you get $500,000 of gains tax-free on your personal residence.
I'm just saying, guys used to look at somewhere like Tampa and see nice weather, no state tax, cheap COL and rock-bottom housing (nice waterfront properties for under $1mm). Now COL and housing have normalized and are on par with markets in CA, so while the no state tax is still a boon if you value other things (politics, more moderate weather with seasonality, etc.) it's a tougher decision.