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During the pandemic, foreign immigration plummeted, but 2022 saw levels recover to near pre-pandemic rates. California had a net gain from immigration of 90,300 people last year, almost three ...
California's price gouging laws make it unlawful to increase the rental price advertised, offered, or charged for housing by more than 10% after an emergency has been declared.
In the housing market, weak inventory was a problem that existed prior to the pandemic due to over a decade of underbuilding. When interest rates fell to record lows, buyers who swarmed the market ...
The California Legislative Analyst's Office 2015 report "California's High Housing Costs – Causes and Consequences" estimates that for the state to have kept housing prices no more than 80% higher than the median for the U.S. as a whole (the price differential which existed in 1980, as opposed to the >150% differential which exists today ...
An ongoing housing shortage in California has increased housing costs dramatically and contributed to the Bay Area's high rates of homelessness. [19] Homeless shelters have been major sites of community transmission. On April 10, 70 of 144 occupants of one homeless shelter in San Francisco were confirmed to have COVID-19. [180]
But the migration pattern has caused a sharp increase in housing prices in addition to the increase in goods and services. For instance, Redfin data showed that home prices in Miami rose 24.5% ...
In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
California used to be the state where people could go to make their fortune. But now, the Golden State is no longer home to a “gold rush.” Data from the U.S. Census Bureau shows that ...