While California may be the epicenter of the nation’s housing crisis, the problem is spreading, a Washington policy center reported recently.
is spreading from big cities to the nation’s heartland, with housing shortfalls worsening in 230 out of 309 U.S. metro areas.
“It doesn’t matter if you’re in an urban area or a rural area or really anywhere in between, the cost of housing and the demand for it has grossly outpaced salaries and supply,” said Up For Chief Executive Mike Kingsella, who discussed the study this month at the National Association of Realtors conference in Orlando, Fla. “Our study really found that for far too many Americans, folks can’t afford to live well where they work, play and gather.
The Los Angeles-Orange County metro area had a shortfall of 388,874 homes in 2019, or 31% more than in 2012. If you look at, for example, in the state of California, we measured housing elasticity, which is to say, what is the market response is to increases in housing need. And all of these things taken together mean that there’s this gap between the housing that’s needed in communities and the housing that we have.Going back to the taxpayers’ revolt and the creation of Prop. 13 in the 1970s and to exclusionary zoning … in the 1930s, these barriers to production are manifold.
Those barriers in California have proven to be extraordinarily acute, and have perpetuated and worsened housing deficit over the past several decades.
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