California’s housing crisis isn’t easing anytime soon. The elites, who have big homes, and great lives, could care less.
That’s the message from the latest Anderson forecast, a quarterly economic analysis from UCLA.
Projections show that rents will continue to surge, especially for low- and moderate-income people in coastal areas of California, and that home prices will continue to spiral out of reach for first-time home buyers.
Housing starts remain far below prior peaks.
The impact has been a housing crisis shouldered disproportionately by young people seeking to buy their first homes, and by those with lower and more moderate incomes seeking affordable housing near job centers.
Source: San Francisco Chronicle