California's Housing Crisis Has Been Decades in the Making Due to Restrictive Policies, Regulations, and Shifted Priorities
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Something "broke" in California's housing market in the 1970s when housing began being viewed more as a financial asset than a place to live. This set the stage for the current crisis.
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In the 1970s, California saw a "slow growth" movement emerge in response to overpopulation fears, leading to restrictive zoning and regulations that made building housing difficult.
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Presidents Nixon and Reagan cut federal support for affordable housing in the 1970s-80s. This contributed to homelessness rising later.
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Though well-intentioned, policies like environmental regulations have made it easy for NIMBY groups to block development in California. Layers of regulation inhibit building.
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California's model has spread nationally. As other growing cities like Miami and Atlanta limit new housing, they risk California-style crises of spiking prices and homelessness.