03/28/2024

No Vacancies in California? Housing Report Begs to Differ

California will have to build about 3.5 million homes over the next eight years, more than triple its current pace of construction, simply to keep up with expected population growth and hold down housing costs to affordable levels. But how could the state actually do it?

That question is the subject of a new report by the McKinsey Global Institute that lays out a long list of policy ideas — including many that would be contentious and politically difficult — to help the state step up housing production. Those ideas include streamlining grants of local permits, and using tax policy to withhold money from anti-growth cities that drag their feet on new housing.

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