Not everyone is cut out for life in the tropics or the developing world. Some people considering retirement overseas would opt for Europe if that were a realistic and affordable option, and it can be. In the current climate of crisis, economies, markets, and values are down as they have not been in decades in some of Europe's most appealing places to spend time and retire.
It could be the dollar will be stronger the the Euro in the future but the US no place to be if you have retirement funds to protect. How California in particular is going to avoid a big crash, I have no idea. --TS