Will Coastal houses become a Deadweight Loss?

In this article, there is talk about how most houses along the coast in Fla. and CA. in example both have very high prices for the houses. California for example is 83% higher than the equilibrium price than it should be. While there are other states such as NC who are not even hitting the equilibrium price of the houses so they are losing money. This article makes me wonder if the coast houses are more elastic than inelastic because if people cannot afford them the price will obviously have to be dragged down in the long run, but yet, I am sure that there are many people willing to pay that high of a price for a coast house, but how high is too high? If people cannot afford the houses, would the coast become a deadweight loss or would the price just get dragged down towards the equilibrium?