The median cost of a home in California is $500,000, which is twice the national figure. The New York Times reports that the rising cost of housing in the Golden Bear State is a threat to California’s quality of life and its future economy.
The state economy is booming, but the lack of affordable housing for the middle class has gotten so severe that there is a resurgence of the rent control movement and the growth of “Yes in My Back Yard” organizations pushing for an end to local anti-development zoning and planning regulations. Even state legislators are considering a bill that could crack down on communities that have systematically delayed or derailed housing construction proposals.
