Affordable Housing Is Now a Middle-Class Crisis in California
The Golden State Faces a Massive Shortage of Residential Real Estate. So Why Aren’t Builders Building?
California has a housing crisis.
This probably doesn’t sound like news given the recent publicity about disputes over homelessness, rapidly rising rents, and gentrification—and the flurry of policy proposals for everything from rent control to fees on commercial construction and property sales used to support affordable housing programs. Unfortunately, the conversation about housing is largely disconnected from the reality of the problem, its causes, and potential fixes.
Debate about the housing crisis typically revolves around low-income households, and understandably so. The rule of thumb is that people shouldn’t spend more than …
