California Housing: A look at problems and possible solutions

This ABC10+ collection dives deep into the topic of housing in Northern California. It highlights some of the problems homeowners and buyers face, to the possible solutions that could make a difference in the years to come.

[nicolasbenson]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people—at least in California, where I currently reside—are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[derrickholfman]

I believe the housing market has been highly overpriced. There are different factors. Some of it is more buyers than sellers. People get in bidding wars over a home. Most homes sell within 2 weeks. Then if vou want land in the country between the rich folk and China who are paying way to much for property they make it impossible for average people to purchase in the country. It's going to implode because all the people who paid a premium for house's are a paycheck away from losing those homes. Look at the trucking company that just went out of business. How many of those employees will lose their homes. Look at other big companies that announced layoffs. Housing will be taking a big hit and prices will drop

[JustaUsernd]

That's why I'm scared to buy a house, but renting an apartment is a bigger threat too. Every year, they keep raising the rental payment and it's really concerning...

[sugarshaker]

Wow the government gets 95K in permits and fees for each new house built in California! that's insane if the government thinks there's a housing shortage why don't they quit charging Builders those fees and that would cut back on a lot of the waiting time too

[oesso]

We did this to ourselves by trying to get rich off of real estate. It's like a pyramid skeam where the ones on top get rich and the bottom eat the scraps.

Also Warren Buffett said that to fix this issue is to move to the outskirts of our land and continue to build pet cities. This is so true, there is so much land for each to have our own.

[Raymondjohn]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[yvette]

I knew something was brewing in 2019 when I bought my house. I qualified for $500, 000 but found a new build for $307, 000 with a 3.6% interest rate. I refinanced a year later for a 2.37%. Now, I'm watching all of my neighbors complain about high property taxes, over inflated insurance premiums and high interest rates. In 2023, my mortgage is still cheaper than my rent in 2019. The key to this is to know when the economy is well over a period of time, get prepared for the switch and never over purchase.

[OWK]

Makes you appreciate people living in cars and vans.

[todddammit]

The real issue is strict zoning laws and NIMBYs. That's literally the only reason we have this problem.

[Kinkle_Z]

It's a buyer's market if you're paying cash. If you need a mortgage, you're screwed.

[davydawgdawg]

I would have liked to see more attention be paid to high density housing options like apartments and multi family zoning and the issues surrounding them.

[rampar]

I never felt sorry for greedy investors. They were the ones that created demand for renters.

[karld]

There’s a housing shortage because California has pro car zoning like parking minimums and single use zoning that keeps shops separated from homes forcing driving. Around 40% of land in LA is road or parking lot. That’s pretty typical. That leaves no space for new homes for people.

And all that car space costs money to maintain while not generating much tax revenue.

[juneyshu]

New homes at 600 to 800k are not helping. Absentee landlords rent at high prices but dont do repairs. Its nuts.

[chad]

“Van life” is just gentrified homelessness

[warrenpeece]

There's ALWAYS a housing crisis! Too expensive, high mortgage rates, low inventory. Unless, of course, it's prices crashing, subprime mortgages, and high inventory. Nothing new under the sun.

[johnnyVSpok]

Housing is a luxury good. That’s the problem. It has to become a human right in the minds of society before we will ever get any relief.

[Niccholas]

Here in Sacramento, so many small businesses have shut down because of property taxes. So many peoples ended up living in the streets and lost their homes. Kept building more houses that people can’t afford to live. It’s really bad!

[Kinkle_Z]

When I was born in California there were 10.3 million people here. Now there are 40 million and we're being crushed. It's not the California it once was... it's not the country it once was.

[barbarashults]

Oh Joy! .Growing up in the Sierras and Sacramento area it is really upsetting that I have to look forward to the decimation of the beautiful rolling hills and it"s wildlife. Let"s not forget the noise pollution and traffic that will follow..😬😤