California’s housing shortage is nowhere as big as you think.
In an age where statistics can be weaponized, pro-development types will toss out the biggest shortfall guestimate they can find to make their point: Only more construction will prune California’s high cost-of-living.
Conversely, those who prefer slower growth will quote more modest shortage estimates — or even deny there’s any shortfall — to suggest reasons why we shouldn’t rush to boost new homebuilding.
Of course, there’s an alternative universe: Reality.
These shortfall guestimates are very much “it depends on who you ask.” And this mathematical debate is largely a question of which benchmark is used to measure against the state’s home supply, its homebuilding history, its population and economic growth.View Article