Markets & Economy

‘Where will our children live?’ Tackling housing affordability in California

Experts discuss new ideas for sustainable homeownership in the Golden State
  • At the California Association of Realtors (C.A.R.) Real Estate Summit, leaders focused on the state's most pressing housing issue: affordability.
  • With regard to President-elect Donald Trump, industry professionals spoke to the benefits of having a real estate insider in charge as well as his unclear policy plans.
  • Experts are concerned about how future generations will be able to make homeownership work in the Golden State.
  • Carol Galante, faculty director of the Terner Center for Housing Innovation, called for bold ideas in infrastructure and building to remedy broken housing systems.

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Housing affordability problems in California remain real and pervasive, no matter who is in the White House. That was the message at last week’s California Association of Realtors (C.A.R.) Real Estate Summit, "Housing Affordability and California's Future.” Housing experts said that combination of high rents, low supply and under-building have made homeownership out of reach for many would-be buyers and demanded bold solutions to fix systems that, if continued, would disservice future generations in the Golden State. While the liberal-leaning Californian housing industry was still digesting the news of a Republican presidency, industry professionals also spoke to the benefits of having a real estate insider in charge. "We do have a President who loves real estate, maybe not the type we need, but he loves real estate," said C.A.R. CEO Joel Singer, noting that the market reaction had been positive from an economic standpoint so far. Rising rents, high demand, and low ho...