California’s shortage of affordable homes will get worse, according to a draft report from the state’s Department of Housing and Community Development.
Housing production statewide has been more than 100,000 new homes short of demand annually over the last 10 years. Homeownership rates are at lows last seen in the 1940s. Nearly one-third of California renters spend more than half of their income on rent. The report discussed possible solutions, including land-use policy reform, greater collaboration to address housing needs, and more investment in affordable housing development.
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