Housing Gap Threatening California's Economy

In the latest UCLA Anderson Forecast, economists warn thatCalifornia's current economic prosperity may be threatened by the slowpace of home building in the state. With thousands of new jobs and theanticipated addition of 5 million people over the next decade, thisperiod will see the least home and apartment development than any recenteconomic boom. UCLA economist Rajeev Dhawan attributes an increasinganti-growth sentiment, tax laws that favor commercial development overhousing, environmental regulations, and the high cost of land as reasonsfor the lack of development. Quality of life for many Californians willbe threatened if the housing gap continues to widen, economists say.They recommend that the government should intervene and speedup housingconstruction.

Thanks to California 2000 Project