California housing restrictions have driven up cost along coast, while water restricitions have depressed housing prices inland

NY Times:

Cost of California’s Hot Economy: Severe Housing Crisis

An explosion in costs has emerged as a central problem for the state, and state and local governments are pondering a series of measures to correct course.
In Silicon Valley and in the cities California has restricted building and made it much more expensive which mainly benefits the elites who already own houses.  Others are locked out of the market because the price is beyond their reach.

But inland, where the government has made water scarce by refusing to build new reservoirs and causing needed water to be dumped into the ocean the market for housing is depressed because without water the farmers are hurting.  The environmental wackos have more compassion for bait fish than they do for their fellow man who provides food for their table.

Most of the housing stock in the state is old and in many cases small.  You can buy a much nicer home in Texas for a fraction of the cost of one in California because government in Texas is not doing the things California does to unnecessarily drive up the cost.  It is one of the not so hidden costs of control freak government.


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