California’s real estate market appears to be boxing both buyers and sellers into their current homes, and is also affecting home construction across the state. The state has reported a sharp decline in home sales, decreased inventory and escalating home prices
The number of lower-income tenants looking to secure low-cost rentals has increased by nearly 5 million households in the past 15 years nationwide, but the number of rental units has shrunk by nearly 2.5 million, according to a recently released study.
The numerous, massive wildfires – 100 of them at one point in late July – swarming across California are not only harming the environment and threatening lives but are also exacerbating the state’s affordable housing crisis.
Local regulatory costs and delays at times amount to nearly 50 percent of the cost to build a single-family home.
California voters will decide later this year on two significant housing measures that would help the state’s growing homeless population. One of those is a $2 billion bond measure, which hit a snag in 2016 after some lawmakers argued that the money was initially earmarked for mental health services; not housing.