Common-Sense Policy Reforms for California Housing
Cato Institute, Policy Analysis No. 920
16 Pages Posted: 20 Sep 2021
Date Written: August 31, 2021
California housing has become unaffordable. As of February 2021, the median California home price was nearly $700,000 and the median condominium price was $515,000. The median rent for the same month was $1,733. Based on industry mortgage financing and renting standards, this means that both homebuyers and renters require household incomes of nearly $100,000 to qualify for housing.
Keywords: Housing, California, Policy Reform, Urban Growth, Housing Affordability, Zoning, Taxing, Environmental Policy
JEL Classification: A00, B00, I00, R00, R20, R21, R22, R23, R26, R30, R33, R31, R32, R50, R51, R52, R58
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