The Value Of A Hot Economy In California: A Severe Housing Disaster

But the worsening housing crisis here has created a political environment where prospects for a state housing intervention appear more likely than ever.
Housing prices in Los Angeles, San Francisco, San Jose and San Diego have jumped as much as 75 percent over the past five years.
“We’re at a breaking point in California,” Mr. Wiener said.
PhotoThis is not the first time this state has sought to prod recalcitrant local governments to build housing.
The situation has been aggravated by places such as Brisbane, just south of San Francisco, which has encouraged extensive office development while failing to build housing.

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