Dec 2 2019 38376 1

Dated: 12/02/2019

Views: 43

Housing Crisis Grows Even More Urgent

Housing affordability worsened in 2019.  Only 30% of California households are able to afford the median priced home compared to a majority of 57% in the rest of the U.S.  As a result, California currently has the third lowest homeownership rate in the nation and the second highest percentage of cost-burdened households where spending is at least 35% of their income on rent.

An average home in California now costs over $600,000, more than double the national average.  53% of Californians and 63% of millennials say they are considering leaving the state over high housing costs.  In response, the state has made efforts to bolster California’s housing supply with the government threatening to fine cities up to $600,000 per month for failing to build more homes to meet population needs.  In an unprecedented move, the state sued Huntington Beach this year alleging the city was standing in the way of affordable housing needs.  Governor Gavin Newsom threatened additional lawsuits at other cities that fail to meet their quotas.  Personally, I think this is wrong to take one of the most prestigious cities in the County and expect them to make affordable housing.  Why not choose a city with affordable land values? 

Latest Blog Posts

May 3 2020 38376 1

10 Mistakes Homeowners Are making Around the House1. Using Traditional Light bulbsIf you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on

Read More

May 2 2020 38376 1

35 Foods to AvoidArtificial Sweeteners-cause diabetesAgave-high fructoseBiscuits-trans fats and palm oilCanned Meats-saturated fatsCheese FriesCheese PuffsCheery Pits-cyanideDiet Soda-fake

Read More

Apr 25 2020 38376 1

7 Ways to Get That DownpaymentBuying a home has always been a dream.  If you’re a first time home buyer, an FHA loan may be your best bet only having to come up with a 3 ½% deposit.;

Read More

Apr 1 2020 38376 2

Five Smart Homebuyer StrategiesThe National Association of Realtors has announced that there’s a housing supply shortage.  Homes are selling quickly and home prices are starting to inch

Read More