Industry: Construction
News
March 19, 2015
The San Francisco metro area – where the $952,162 median home price is more than twice the state median – seems to have all the symptoms that the state’s legislative analyst office says causes a housing sickness across California’s coastal cities. High housing costs in those cities are caused by insufficient supply, which are in turn caused by community resistance, environmental objections and scarce land.
News
March 17, 2015
"California’s unfortunate evolution into a society of haves and have-nots has many root causes, but a highly distorted housing market looms very large. We have the nation’s second highest home prices (only Hawaii is higher) and, not surprisingly, its third lowest level of homeownership."
News
March 17, 2015
California’s high housing costs are crimping economic productivity, increasing poverty rates, lowering homeownership, increasing crowding and lengthening commute times, a new state report says.
News
Feb. 26, 2015
Assembly Speaker Toni Atkins announced a sweeping affordable housing plan Tuesday that would impose new real estate fees and expand tax credits as a way to house the needy.
News
Feb. 12, 2015
Despite the recovery, California is still experiencing the aftereffects of the most recent housing bust, and the long-term challenges of housing California’s population haven’t gone away. The housing bubble, which popped in 2008, left the state with a foreclosure problem and large losses of construction jobs. About 652,000 California homeowners remain “underwater”—their mortgages are higher than the market value of their homes (CoreLogic, 2014 second quarter). Paradoxically, a housing recovery for some is a housing problem for others, as high rents and increasing prices place housing out of reach for many Californians.
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