The Hoyt Organization on LinkedIn

Wednesday, March 13, 2013

California Rental Housing Shortage

Richard Green, director of the USC Lusk Center for Real Estate, has launched his blog “Real Estate Matters” at Forbes. Check out his first entry on California’s shortage of rental housing.

California has a shortage of rental housing.
Even in the aftermath of the greatest real estate bust since the Great Depression, houses in California are expensive.  The reason is simple: the rent, a key fundamental underlying house prices, is expensive here.
To put this in some perceptive, I used the 2011 American Community Survey to tabulate rents at the 25th percentile for California’s metropolitan areas, and divided this by renter incomes at the 25th percentile.

View the full article here.


Post a Comment