Rising housing costs don?t just push people out, they keep others out as well. That?s just as big a problem California has long been held up as a place of opportunity, whether or not it?s delivered on its promises.
This image has been a lure for younger generations and a catalyst for constant change and growth, through the entertainment, music, and tech industries. Today, as California?s cultural capital looms large, the state?s magnetism persists.
But California?s golden reputation has been tarnished in recent years by its high cost of living. According to a survey released last week by the Luskin School of Public Affairs at UCLA, residents of Los Angeles County have become increasingly anxious about housing costs, especially young adults. That comes as no surprise to those following the state?s rising housing costs, as well as recent legislative efforts to make California more affordable, like California senate bill SB 827, which would allow more development near transit lines. But that?s not the entire problem. Spiraling housing costs, and the land-use restrictions that often accelerate unaffordability, don?t just push people out, but keep others out as well. Housing costs are keeping many Americans from moving to opportunity.
The Luskin study found that amid the many reasons for a decline in optimism among young Angelenos, and corresponding lower ratings on quality-of-life indexes, housing costs drove the most negative sentiment. That?s especially among people ...