Dec 2 2019 38376 1

Dated: December 2 2019

Views: 92

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

Jan 5 2021 38376 1

What to Expect From Real Estate In 2021For real estate, as for many things, 2020 was a strange year. Despite a pandemic, a recession and unemployment that at one time hit 20 million, 6 million

Read More

Jan 2 2021 38376 1

A Perfect Storm Seeks Destruction of the U.S.As 2021 dawns, the war on our culture moves into high gear.  The opportunistic intersection of the resistance to the Trump presidency, the rise

Read More

Dec 1 2020 38376 2

Nearly Half of Americans Are Considering a Move During the Pandemic, but Why?With the coronavirus pandemic likely to stretch into next year, many people are spending more time than ever before in

Read More

Dec 1 2020 38376 1

How will California’s Proposition 19 impact property taxes?A slim majority of California residents voted in favor of Proposition 19 on Election Day, green-lighting a motion that gives new

Read More