SoCal’s Other Drought – Its Serious Housing Shortage
As Southern Californians once again hope for rain as the annual wet season unfolds, another “drought” that has lasted much longer and does even more harm to the regional economy continues its grip: The housing crisis. There are just not enough homes to house Southern California’s growing population.
The housing crisis is so severe that the Southern California Association of Governments (SCAG) recently held a summit called “The Cost of Not Housing” to look for solutions. SCAG introduced the summit by saying:
“There is a chronic shortage of housing and a lack of housing affordability throughout California. Major institutions, employers, and startups cite lack of housing options as a serious impediment to recruiting and retaining talent.
“The impact of housing affordability is a critical challenge to local, regional, and Statewide economies, particularly as people from all income groups are increasingly frustrated with the lack of affordable options to rent or buy and instead opt to develop their careers in more affordable areas.”
SCAG also produced several short videos featuring Southern California residents talking about how short housing supply and affordability are impacting them. To view the videos, click here.
Homebuilders like Lennar Homes are at the forefront of efforts to address this shortage. The Rancho La Habra plan includes townhomes priced from the $500,000s, targeting the “missing middle” between subsidized affordable homes and higher priced homes. One of the community’s single-family home neighborhoods also will offer smaller single family detached homes from the $800,000s. (Prices subject to change based on market conditions at the time of sale.)
To reduce the cost of housing, it’s also important to reduce the amount of time and expense required to secure approval of new home developments. You can help by adding your name to the growing list of people who support Rancho La Habra. Add your name to our supporter list by clicking here – and while you’re there, please send a support letter to the City; it will take you less than a minute!