Full Steam Ahead
With inflation everywhere you turn, it’s hard to imagine home prices leveling off any time soon. That theory was confirmed by Goldman Sachs economists last week when they predicted that home prices will grow by another 16% nationally by the end of 2022. Read More Here. The problem with California is that it talks the talk but doesn’t walk the walk. In California, there is more regulation heaped upon home builders than in any other state. A home built in Texas for $300,000 would cost over $1,000,000 here in California and most of that difference is the cost of massive federal, state and local government regulation. As if that’s not enough of a burden, CEQA can stop just about any development. Read here about a California judge who stopped a 1,100-home development in San Diego.
