#California new home building undershoots need by highest number in nation, leading to increased homelessness and other societal ills.
> The housing crisis in the Golden State is not new. California lawmakers and Gov. Gavin Newsom have highlighted the state’s housing shortage and introduced legislation aiming to address it in recent years. So far, the efforts have had little effect.
> California’s housing prices have been higher than the rest of the nation for decades, but the gap started to widen between 1970 and 1980 when the prices went from 30% higher than U.S. levels to 80% higher, according to a 2015 assessment from the Legislative Analyst’s Office. In order to have kept California housing prices from growing faster than the nation between 1980 and 2010 would have required 70,000 to 110,000 additional units each year, according to the LAO.
They are trying to do some things, but not enough. Besides building more homes, how about taxing bank repos as long as they are empty? How about offering a break to apartment landlords who sell the rental property to a tenants-cooperative? How about pushing local governments to build apartments within walking distance of multi-business centers (such as office buildings and shopping malls) and public transit hubs?
I'm sure they're trying to do all of the above, but I'm not seeing any of it yet.
To be fair, I have not seen nearly as many homeless people locally this year. If Sacramento, the San Francisco Bay Area, and the Greater Los Angeles area see similar change, it would be a great start.