Industry News

California endures housing crisis

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A new study to be released by the Public Policy Institute of California suggests there's a major housing shortage in the state's employment centers, a top official with the California Building Industry Association said Tuesday. Timothy L. Coyle, CBIA's senior vice president for governmental affairs, said although the study has flaws in its methodology, it repeatedly acknowledges that there's a serious housing shortage in the key job centers of the state – San Diego, Orange County, Los Angeles and the Bay Area. "Furthermore, the report reaffirms what CBIA has been saying about the causes of these shortages – growth control and other governmental constraints have limited the supply of needed new housing," Coyle said. The study uses a newly developed methodology to calculate how many homes and apartments should have been built in California, based on such factors as nationwide housing production, immigration levels, demographics of immigrant families, and the state's eco...