Advisory Center for Affordable Settlements & Housing

acash

Advisory Center for Affordable Settlements and Housing
ACASH

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Document TypeGeneral
Publish Date06/11/2019
AuthorNoah Buhayar and Christopher Cannon
Published By
Edited BySuneela Farooqi
Uncategorized

How California Became America’s Housing Market Nightmare

California, the land of golden dreams, has become America’s worst housing is terrifying. The median price for a house is now more than twice the national level and the state has the most expensive residential markets. When the poverty rate is adjusted for the cost of living, it is the worst for the nation, and California accounts for 12% of the U.S. population but a quarter of its homeless people. The situation for owners and renters in California has the highest share of households spending more than 30% of their income on housing. It is easily said that bad government policies as well as outdated zoning laws, old tax provisions, and the benefits that go to homeowners for a long time it becomes a severe shortage of houses. We can broadly speak that there is no solution to the California housing crisis, it is the only solution to construct millions of new houses. It is an estimation for  California is needed more than 3.5 million new houses.

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