November 20, 2016

WE'RE GONNA NEED A WHOLE LOT MORE IMMIGRANTS:

Changing the rules of the game to close California's housing gap (Jonathan Woetzel, 11/10/16, LA Times)

Housing is a chronic pain point for California. The cost of shelter in the state is so high and wages overall are so low that half of the state's households struggle to make rent or mortgage payments.

The state's affordability crisis is the product of a housing drought: Too few units have been built for the number of people who live here, and there are too many barriers to developing more. Today, California ranks 49th out of the 50 U.S. states in housing units per capita (only Utah has fewer). In a new McKinsey Global Institute report, my coauthors and I estimate that California must build 3.5 million housing units by 2025 to satisfy pent-up demand and meet the needs of its growing population.

The easiest conditions in which to assume the presidency ever.

Posted by at November 20, 2016 8:56 AM

  

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