From 2000 to 2015, the state lost nearly 800,000 residents with incomes near or below the poverty line. Nearly three-quarters of those who left California since 2007 made less than $50,000 annually. The leading destination for California’s poor? Texas.
People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900...That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that age, baby boomers had homes at almost twice that level... Property-tax exemptions for longtime residents keep older Americans from moving. Zoning rules make it harder to build affordable apartments attractive to senior citizens.
If the sea rises by six feet by the end of the century, more than 600 communities would experience chronic inundation, including more than 50 urban centers from Oakland to Miami to boroughs of New York City... Under this scenario, damages could significantly start to really rack up. The real estate service Zillow predicts that if tides rise by six feet, nearly 300 cities in the nation would lose at least half of their housing stock.
Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent. Yet America’s national housing policy gives affluent homeowners large benefits; middle-class homeowners, smaller benefits; and most renters, who are disproportionately poor, nothing.
Last month the U.S. Geological Survey estimated that without concerted intervention, as much as 67 percent of Southern California’s beaches could be lost to rising seas by the end of the century ... More than 42,000 homes in California will be under water—not merely flooded, but with seawater over roofs.
California's housing-supply slump has driven home prices to levels unseen since 2007, before the dawn of the financial crisis. The current median home value in California is just under $490,000, up nearly 7% from this time last year and more than twice the national median. Homeownership in the state is at a 70-year low ... And cities that were once considered the West's more affordable big markets, like Denver, Portland, and Seattle, are now experiencing some of the fastest-rising rents
Public funds, including millions of dollars from California’s cap-and-trade program to cut greenhouse gas emissions, are going to developers to build new homes in freeway pollution hot spots. The population near Los Angeles freeways is growing faster than elsewhere in the city as planners push developers to concentrate new housing near transportation hubs, convinced that increasing urban density will help meet state targets for greenhouse gas reductions.
One in five homeless Americans live in California, where the problem is especially acute. In the Golden State and three other western states – Hawaii, Nevada and Oregon – more than 50% of homeless people are categorized as unsheltered, meaning they are living in the streets, vehicles or parks, in places not fit for humans to stay. In New York, by comparison, the number is less than 5%.
The affordability crisis in US cities is not just about buying homes. Rents, too, have been rising since the Great Recession. In the coastal and hot cities...those increases have put even rentals out of reach for many in the middle class–defined as those making between $50 to $125,000... In 2016, the capital required to sign a lease on the average-priced $3,500-a-month apartment in San Francisco often topped $12,000...for first and last month’s rent plus security deposits and a broker fee.
apartments designed primarily for middle-class teachers have been an unintentional boon for the cafeteria workers, bus drivers and special education assistants who make up the lowest-paid group in the school system. The problem for teachers, as district officials learned after they had signed the lease agreements and developers had secured funding, was that even the newest hires earned too much to qualify for the units.