The California Department of Finance (DOF) recently released data on population and housing estimates, highlighting a different approach by focusing on net housing production rather than building permits. This perspective reveals that during 2020-2025, while the state population nearly returned to pre-COVID levels, new housing grew by 578,368 units, indicating a decline in the number of persons per household. The data suggests that factors beyond just building numbers contribute to the housing affordability crisis, and that control by state legislators over private development economics may be limited in effectively reducing rents.
The recent data from the California Department of Finance indicates that the state's housing affordability crisis is not solely the result of inadequate building but rather a complex issue with deeper economic implications.
The DOF's focus on net housing production offers a clearer glimpse into actual housing availability as compared to conventional metrics like building permits, which can be misleading.
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