Much has been said on the topic of housing, especially in California where we are told there is to be a “crisis.” As far as I can tell, that seems to mean something like:
There is more demand for housing than there are houses.
Fair enough. Then:
Due to high demand and low supply, the cost of housing rises, pushing out lower-income residents.
One proposed origin of California’s homelessness problem.
Another important variable to consider here is how a tech-heavy industry likely keeps housing prices high by compensating employees for the higher costs, in addition to attracting more high-income employees to begin with.
All and all this is an area I don’t really know much about, so I don’t really have much to say when people talk about it with such passion. But to be honest it seems like most people that hold strong opinions about it also don’t really know much more about it than I do.
Sprawl and densification:
The answer to this problem seems for many to be “build more houses.” I think this really doesn’t solve anything in the long run. We’ve seen what happens when you continue to build more in Southern California; you get suburban sprawl which comes with its own set of problems. The other approach, to densify, is equally unappealing.