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CALIFORNIA DEPARTMENT OF HOUSING REPORT CALLS FOR 1.8 MILLION MORE HOMES BY 2025

IRVINE, CA— The California Department of Housing and Community Development today released an updated “California’s Housing Future: Challenges and Opportunities,” report highlighting the need, challenges and steps forward to address the state’s housing crisis.

The report calls for 1.8 million new homes needed to keep up with California’s population and economic growth by 2025, or 180,000 homes annually. Lack of supply of housing and rising costs are adding to the growing inequality and advancement opportunities for younger Californians. The report provides a roadmap for government and business to tackle this issue within the next decade to prevent economic decline in the years ahead.

“California is undeniably a great place to work and live, but as this report highlights, if we continue to ignore the housing crisis, many bright, young workers won’t be calling it home,” said Lucy Dunn, President and CEO, Orange County Business Council. “OCBC commends HCD and Director Ben Metcalf for the release of this report, highlighting the pervasive need, and we look forward to working with him and housing stakeholders in its review, real-world upgrades and ultimate completion.”

The report is currently in draft phase and needs public support and comment. Public comment is open through March 4 and can be submitted by contacting sha@hcd.gov or attending a public workshop, listed HERE. CLICK HERE to read the full report and get engaged with California’s future.

About OCBC:
Orange County Business Council is the leading voice of business in Orange County, California. OCBC represents and promotes the business community, working with government and academia, to enhance Orange County’s economic development and prosperity in order to preserve a high quality of life. OCBC serves member and investor businesses with nearly 250,000 employees and 2,000,000 worldwide. In providing a proactive forum for business and supporting organizations, OCBC helps assure the financial growth of America’s sixth largest county. For more information, visit www.ocbc.org
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Posted on January 3, 2017

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