A worsening housing shortage, economic uncertainty, and high home prices all mean that less than a third of Californians can afford to buy a home, according to the California Association of Realtors.
In releasing its 2020 California Housing Market Forecast on Sept. 26, C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young repeatedly pointed to the state’s housing shortage as the main reason for skyrocketing home prices.
