California is in the midst of an enormous crisis of affordable housing. The median home price in the state now exceeds $500,000, while the median rent for a two‐bedroom apartment tops $1,800 per month, nearly 55 percent higher than the national median. In cities such as San Francisco and Los Angeles, average rent exceeds $2,500 per month. Less than a third of Californians can afford the median house cost, while more than half face rents that economists consider unaffordable as a portion of their incomes. Read Full Article »
California Needs Housing — and Won't Get It
Anyo
ne wondering how sclerotic and ungovernable California has become need look no further than the failure last week of an incredibly modest attempt to reform the state’s archaic housing regulations.
California is in the midst of an enormous crisis of affordable housing. The median home price in the state now exceeds $500,000, while the median rent for a two‐bedroom apartment tops $1,800 per month, nearly 55 percent higher than the national median. In cities such as San Francisco and Los Angeles, average rent exceeds $2,500 per month. Less than a third of Californians can afford the median house cost, while more than half face rents that economists consider unaffordable as a portion of their incomes. Read Full Article »
California is in the midst of an enormous crisis of affordable housing. The median home price in the state now exceeds $500,000, while the median rent for a two‐bedroom apartment tops $1,800 per month, nearly 55 percent higher than the national median. In cities such as San Francisco and Los Angeles, average rent exceeds $2,500 per month. Less than a third of Californians can afford the median house cost, while more than half face rents that economists consider unaffordable as a portion of their incomes. Read Full Article »
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