“The housing crisis gripping the Golden State threatens to permanently stymie economic growth and demands bold and innovative solutions,” C.A.R. President Jared Martin wrote in an opinion piece in CALmatters.
California’s 4.2 percent unemployment rate is at a 10-year low. Wages are accelerating at their fastest pace in nearly a decade. But prospective home buyers continue to see sticker shock, with median prices still hovering in the $530,000 range.