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Bunch of new homes being built here in socal and the developers have doubled the prices since beginning of the pandemic. As long as the developers can hold on t

• epistasis 4y ago
  What you call a "bunch" is far less than historical norms. We have been in a crunch for so long that even small amounts of building seem like "a bunch" but it's nowhere near building enough for what people need. While this has been going on for longer in California, and the need is far deeper than most areas, it is a national problem now too.
• HDThoreaun 4y ago
  > Bunch of new homes being built here in socal Not even close to enough. California is a good million units short of where it needs to be. Socal needs to convert the endless supply of ranch houses into 2 and 3 flats.
  • epistasis 4y ago
    External consultants (McKinsey, I think?) estimated 3.5 million homes short, and Gavin Newsom campaigned on building that much. He's going to fall far far short of this goal, because he ignored it for the first years of his governorship, and is only making small moves now, but people trying to accomplish this goal are glad that he's starting to make these small moves. However, any change will take multiple years to start having effect, and at least 5-10 years to actually solve, so even if he does all the right stuff, Newsom won't be able to say he solved until he's out of office.