Answer: 3.5M!!! That’s a lot of homes.
30% of renters and more than 30% of homeowners are rent-burdened. How can California fix that? Read on:
In the United Nations Universal Declaration of Human Rights, access to decent & affordable housing is viewed as a fundamental human right.
The California Budget Center estimates that more than 50% of renters and more than 30% of homeowners are rent-burdened—their housing costs more than a third of their monthly household income.
A McKinsey Global Institute report found that California needs to build 3.5 million homes by 2025 to close the housing gap. The report identifies that California is physically capable to add more than 5 million units in “housing hot spots.”
“More than a quarter-million of these units could be built on urban land that is already zoned for multifamily development and is sitting vacant. Up to 3 million units could be built within a half-mile of high-frequency public-transit stations. More than 600,000 could be added by homeowners to existing single-family homes.”
More than 50% of California’s households cannot afford the cost of housing in their local market.
Our mission is to build more homes across California, close the housing gap, and make California affordable for everyone