Episode 67: Is California in a Housing Crisis?

Property Management Brainstorm

Is California in a housing crisis? This is a rhetorical question because the answer is an astounding YES!

• In California, an estimated 150,000 citizens have become homeless or live in shelters, while over 7 million Californians have been impacted by gentrification and are living in poverty.
• The median home price in California has eclipsed $800,000.
• Meanwhile, California remains one of the most difficult places in America to build affordable housing.

At the CALNARPM Conference in Napa Valley, April 21, 2022, Bob hosted and facilitated a panel in front of a live audience that addressed this topic. For this episode of Property Management Brainstorm, we've turned a recording of that panel into a podcast! Bob posed some dicey questions to the expert panel which resulted in a lively discussion.
Bob is joined on the panel by Oscar Wei, Deputy Chief Economist, California Association of Realtors; Aaron Eckhouse, Regional Policy Director, California YIMBY ; and Keith Becker, General Manager, DeDe’s Rentals, Santa Rosa, CA.
Topics Covered

[3:15] Bob, Oscar, Aaron, and Keith introduce themselves to the audience at CALNARPM.
[5:50] A recent 60 Minutes segment, featuring Seattle, focused on the housing and homeless crisis in that city.
[11:30] California's housing crisis is a complicated topic. What are the reasons we find ourselves in this situation?
[18:45] California builds far below the approximately 180,000 homes needed each year, just to keep up with growth. So what is broken, why aren't we building?
[25:55] The supply of starter homes is shrinking by about 17% per year, a new generation of Californians don’t want to be tied down to a mortgage, and institutional investors are paying cash for single family homes, all of which have an impact on our local housing stock.
[37:10] With rents escalating at a rapid rate, are further protections needed for renters in California beyond AB 1482 and AB 3088?
[47:45] Are corporations, property management companies, and private citizens doing enough to have an impact on our housing crisis?
Connect with Oscar Wei, California Association of Realtors
https://www.car.org/marketdata/podcast
Connect with Aaron Eckhouse, California YIMBY
https://cayimby.org/
Connect with Keith Becker, DeDe's Rentals
https://www.dedesrentals.com/

Connect with Bob Preston
https://www.propertymanagementbrainstorm.com/
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