Mr. Newsom campaigned on a promise to usher in reforms that would lead to the construction of 3.5 million housing units by 2025. That output would be more than quadruple the current rate, and the governor has started referring to it as a “stretch goal.”
California is not only well behind that pace, but the number of housing permits has actually turned downward — hovering around 100,000 units in 2019 — despite a strong economy and a median home value, $556,000, that is more than twice the national figure.
It is hard to overstate the threat posed to the state’s economy and prosperity. Housing costs are the primary reason that California’s poverty rate, 18.2 percent, is the highest of any state when adjusted for its cost of living, despite a thriving economy that has led to strong income growth and record-low unemployment.
California, Mired in a Housing Crisis, Rejects an Effort to Ease It
A lawmaker’s push for denser development near transit, overriding local zoning, was thwarted by a diverse group of legislative foes.
Conor Dougherty, NYTIMES