“California’s median home prices have just topped $800,000, which is astounding when one considers that this is the statewide median, and includes lower-cost markets such as Bakersfield and Modesto.”
“In 2015, the Legislative Analyst’s Office reported that California’s housing prices are 2.5 times the national average—and that we need 100,000 more units a year to keep pace. The state’s slow-growth rules and endless mandates for solar energy and open space also drive up prices. That’s why I beat the same old drum: California needs to let builders construct more housing of all types.
If a proposal reduces government regulations and allows more housing construction, I’m for it. If it does the reverse, I’m against it. That’s why I support efforts to allow the construction of multi-family housing in areas that are now zoned only for single-family homes. Despite the misconception, that change doesn’t ban single-family homes, but also allows duplexes and condos.”
“The goal should be to reduce regulations across the board, so builders can more easily respond to market demand by building whatever consumers want to buy. Defending antiquated zoning laws will not accomplish that objective, for the same reason government control of any product or service only distorts the supply and demand process.
Remember that as you get in a bidding war for that $1-million 800-square-foot condo.”