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The California Legislative Analyst's Office 2015 report "California's High Housing Costs – Causes and Consequences" estimates that for the state to have kept housing prices no more than 80% higher than the median for the U.S. as a whole (the price differential which existed in 1980, as opposed to the >150% differential which exists today ...
Read More: 5 Cities Where Homes Will Be a Total Steal in 2 Years Find Out: How To Get Rich in Real Estate Starting With Just $1,000 But buyers don’t end up buying a property blindly.
"If California had added 210,000 new housing units each year over the past three decades (as opposed to 120,000), [enough to keep California's housing prices no more than 80% higher than the median for the U.S. as a whole--the price differential which existed in 1980] population would be much greater than it is today.
In the 1960s, Pritchett sold a Malibu beach house to actor Steve McQueen, who valued privacy so much that he bought the lots on each side of the property to ensure that no one would build anywhere ...
In California, local governments work with the state government to develop a Regional Housing Need Allocation, the number of housing units that should be created in an area to meet its housing needs. Between 2015 and 2018, Silicon Valley cities permitted 85% of units needed to reach the goal for residents in the Above Moderate Income category ...
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But living in this tech hub is exceedingly expensive; the median home price stands at $1.4 million, while the median rent for a one-bedroom apartment is over $4,200 per month.