The State of California is projected to have a per capita shortage of 3.5M units by the year 2025. This housing deficit has created a major problem that uniquely influences low and middle-income households. In 2018, the total net new supply of housing units was only 84,000, which means the per unit shortage did not shrink based on population increase of aprx~ 360,000.
THE CRISIS IS AFFECTING EVERYONE
We are seeing businesses struggling more than ever to attract and retain employees, families moving out of the region, traffic worsening with longer commutes, and youth and retirees unable to remain when transitioning to the next stages of their lives. The lack of housing increases economic inequality and homelessness and decreases diversity.
“As workers get pushed further and further from job centers, excessively long commutes pull them away from time with their families, increase strains on mental health and happiness, and contribute to further greenhouse gas emissions.”
- WHITE HOUSE HOUSING DEVELOPMENT TOOLKIT, SEPTEMBER 2016