Half the state's households struggle to afford the roof over their heads. Here’s what you need to know about one of California’s most vexing issues.
Get the news that matters to all Californians. Start every week informed.Tenants and landlords are hurting, homelessness is skyrocketing and the housing market is out of control. The COVID-19 pandemic isn’t the only reason for that, but it’s making California’s longstanding housing crisis even worse.
The pandemic hasn’t cooled the housing market, either. Demand has long exceeded supply of homes for sale in California, and that’s especially true now. But while many families are suffering the economic impacts of COVID-19, wealthier households with money to spend and capitalizing on low interest rates have driven up prices even more.
found that in 2019, Black renter households were about twice as likely as white renter households to be severely cost burdened. The data also fails to count some individuals who never interacted with homeless providers and survivors of domestic violence who are omitted for safety purposes, according to Ali Sutton, the state deputy secretary for homelessness.
Many of the same ideas proposed in SB 50 were debated again this year. Combined, SB 9 and SB 10 offer a more modest version of the failed SB 50. That doesn’t mean they’re more affordable: Only 7% to 10% of the new units are designated as affordable, Boyne said.Part of the problem boils down to the nuts and bolts of housing development. Over the last decade, the cost of building multifamily housing in California has spiked by about 25%, according to a
Local pushback might be rooted in concerns about the environment, about congestion, about the creep of gentrification, or in a desire to preserve the “character” of the neighborhood . But whatever the flavor of NIMBYism and whatever its ultimate goals, higher hurdles to development in the state’s most desirable locations mean many cities have failed to add new units fast enough to keep up with population or job growth.
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