California’s home prices and rents are higher than just about anywhere else in the country. This has dramatic impacts not only on California households across all income levels but on the state’s overall economy. According to a recent report from the California Department of Housing and Community Development (HCD), over the last 10 years, California has built an average of 80,000 homes a year, far below the 180,000 homes needed each year to keep up with housing growth from 2015-2025. This is not a new phenomenon; California has failed to add sufficient housing to keep pace with population growth since the 1970s.