The California conundrum: Fewer people, more homes, but an acute housing shortage
LA TimesIn the last decade, California home prices and rents have soared, an upswing that’s put homeownership further out of reach and helped drive thousands into homelessness. L.A. County, on the other hand, has lost 4.2% of its population since its peak several years ago and statewide there are 1.8% fewer people — drops that state number crunchers consider somewhat inflated. Other factors also contribute to rising — or constant — housing demand as the overall population drops, according to the Public Policy Institute’s Johnson. Johnson’s research found that since 2020, many large California cities — including gentrification hotbeds of Los Angeles and Oakland — have lost population, but the number of occupied housing units has actually increased. Johnson said corporatization could be driving up housing costs to some extent, but he said the main reason for the escalation is that California hasn’t built enough to meet demand.
History of this topic
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