The housing crisis gripping the Golden State threatens to permanently stymie economic growth and demands bold and innovative solutions.
During his State of the State speech earlier this year, Gov. Gavin Newsom boldly proclaimed: “If we want a California for all, we have to build housing for all.”
The California Association of Realtors and its more than 200,000 members who advocate on behalf of home buyers and sellers and are dedicated to the preservation of private property rights couldn’t agree more.
California’s 4.2 percent unemployment rate is at a 10-year low. Wages are accelerating at their fastest pace in nearly a decade. But prospective home buyers continue to see sticker shock, with median prices still hovering in the $530,000 range.