California Construction News staff writer
California must build 3.5 million homes by 2025 to end the state’s housing shortage, a new report from California YIMBY concludes.
“This shortage has resulted in rising rents and prices, closed access to homeownership for many families, and forced many Californians to leave the state altogether,” the report states. “A significant body of research suggests that the shortage is the result of land-use regulations that make it difficult to build new housing.”
The California YIMBY education fund commissioned a study by MapCraft of relative housing underproduction rates across the state, estimating a “conversion rate” for each city and county that compares historical rates of housing permitting to potential market-feasible housing development opportunities, assuming no limitations due to zoning.
Key findings:
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