Causes and Solutions to the Ensuing California Housing Crisis
DOI:
https://doi.org/10.58445/rars.1687Keywords:
economics, Supply and Demand, housing crisisAbstract
This paper delves into the causes of the California Housing Crisis using an analysis of the market and supply and demand forces. I also examine types of government regulation that concern housing, including regulation that negatively impacts the price of housing or the supply of housing. Specifically, I looked at what factors disincentivize developers to build housing in certain areas in California and methods of lowering the cost of housing. This project outlines policy changes to help stop this massive appreciation of housing costs. I find that to reprimand this issue would require three changes: A switch from state income tax to land tax in California, a shift of housing control from local municipalities to the state government of California completely, and removal of unnecessary housing policies.
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