This is an abridged version of an article that appeared in the May/June 2015 Issue 1502 of the Hoover Institution’s Eureka – a bi-monthly publication on relevant California policy topics. To read the full Issue 1502, visit Eureka. To read more about the Golden State Poll, click here.
California’s housing prices are the 2nd highest in the country (second only to Hawaii); according to Zillow, Californian home values and rental prices are roughly 2½ times and 1½ times, respectively, the national averages. Homeownership is a signifier of upward economic mobility, but many Californians cannot afford these daunting prices threatening the California Dream.