A lesson on California housing from the billionaires planning a new city
LA TimesA cadre of Silicon Valley elites is drawing fierce criticism from local residents and environmentalists for planning a new city on the outskirts of the Bay Area, a project dubbed “California Forever.” But the effort should be applauded for revealing a truth about California’s failed housing policies. Yet the state’s supposedly pro-development new housing laws have yet to produce more homes at a scale sufficient to address the affordability crisis, and recent data suggest an accelerating decline in housing production. To encourage growth where it’s happening naturally, the state could create a “Housing Opportunity Area” comprising the Central Valley and Inland Empire, subject to more liberal rules than the coast. A “7% solution” to the California housing crisis would free up 1 million more acres to build the new communities that we largely stopped building around 2000, when we had 5 million fewer people.