If you live in the Bay Area like we do, you know that the housing shortage is real talk. The other problem is that the cost to own one of these coveted homes in California is at an all-time record high. Instead of dining out, shopping or going to the next blockbuster movie, Californians are paying their mortgage. There are solutions to solving the housing crisis in California, here are just a few as noted in The Mercury News:
- Make It Easier to Build – for example by speeding up the permitting process that would shorten the project development time by four months which in turn cuts housing costs.
- Increase Density – by taking advantage of under-used land that is already zoned for apartments, building mid–rise housing near public transit and adding more granny flats.
- Increase Spending on Affordable Housing – government spending increase and private businesses need to support affordable housing development.
- Cut Construction Costs – one way to do that is let robots build your home. Prefab and modular building is a way to cut construction costs.
- Reform Prop. 13 – this one is a sticky situation that requires some serious planning and means of new sources of revenue to support new housing.