Details on the Housing Crisis in California

Housing Crisis

People in California deal with many different problems. However, one of the most pressing problems is the housing crisis. Thanks to the tech industry, the economy in California is booming. Tech companies are thirsty for talent, and more and more people are moving to the state. Unfortunately, this means there is less and less space available for people to live.

The California housing crisis is making life miserable for lifelong Californians. As more people move to California, rents for apartments and houses increase. This makes housing take a bigger and bigger chunk out of people's paychecks. Also, the stagnant wages of many lower-class and middle-class workers compound the complexity of this problem. For example, in 2016, 26% of Californians put at least half of their yearly income towards rent and utilities. Since most economists recommend spending no more than 30% of your income on housing, it's easy to see how the housing crisis can quickly become devastating.

Of course, the housing crisis also makes life hard for people wishing to move to California. Transplants are shocked by the cost of housing in California. For example, in Stockton alone, home prices have increased 92% in the past five years. This means more and more new workers seek to buy homes in cheaper areas in exchange for a longer commute. These longer commutes then increase pollution and traffic.

Thankfully, there are plans for addressing the housing crisis. For starters, urban planners are examining ways to build multifamily properties in neighborhoods were only single family homes once stood. This can allow more people to live and work in the city. However, this solution also comes with its own set of problems. Existing single family neighborhoods are angry to see multifamily units go up where single family homes once stood. These people worry about parking and the culture of the neighborhood changing. It will take a lot of convincing to get the residents in these neighborhoods to open up their doors to multifamily buildings.

The housing crisis in California is frequently chronicled across the nation. It seems that people are anxiously watching to see how California will deal with the problem. Perhaps this is because people know the housing problems of California could happen anywhere if given enough time. This means California may not only need to be a hero for itself, but it may also need to set the standard for other states to follow.



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