The Orange County Register: California’s housing shortage is not sustainable

The Orange County Register: California’s housing shortage is not sustainable
May 24, 2018 Peter
A house is under construction Friday, May 4, 2018, in Roseville, Calif. Federal data released Friday shows California has surpassed the United Kingdom to become the world fifth largest economy, with real estate and financial services leading other economic sectors in driving the state’s economic growth. (AP Photo/Rich Pedroncelli)

New reports from the nonprofit California Housing Partnership provide insight into just how significant the shortage of affordable housing in Southern California really is. According to the reports, Southern California needs upward of a million new affordable housing units just to meet current demand. In Los Angeles County, it is estimated another 568,000 more affordable rental homes are needed to keep up with demand. According to the report, the county’s poverty rate rises from 17.2 percent to 24.9 percent when adjusting for housing costs and social benefits. In Orange County, it is estimated another 92,738 more affordable rental homes are needed to keep up with demand. According to the report, Orange County’s poverty rate nearly doubled from 11.9 percent using the official poverty measure to 21.3 percent when factoring in housing costs and social benefits.

 

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