LA Times: California’s housing affordability problems ‘as bad as they’ve ever been in the state’s history,’ housing director says

LA Times: California’s housing affordability problems ‘as bad as they’ve ever been in the state’s history,’ housing director says
January 3, 2017 Peter

 (Jay L. Clendenin / Los Angeles Times)California’s housing affordability challenges remain daunting and continue to increase, according to a draft report from the state’s Department of Housing and Community Development released Tuesday.

The report found:

  • Housing production over the last decade fell more than 100,000 new homes short of demand and continues to lag, leading to surging prices at all income levels.
  • The state’s homeownership rates are at their lowest since the 1940s.
  • One-third of the state’s renters spend more than half their income on housing costs.
  • California has 12% of the nation’s population, but 22% of the country’s homeless population.
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