11 million of us. California is simply not building enough homes to meet the housing needs of its growing population. The State Department of Finance has reported that 1999 marked the 9th consecutive year when housing production was 50 percent of normal. Last year, with an annual need of 250,000 housing units, only 139,000 were actually built. This housing deficit, of course, results in steady upward pressure on housing costs.
New homes cost more.
Landlords have an incentive to move older tenants out, and rent their units for more money. If you are rich, or if you have a generous daughter or son who is a cyber millionaire, all this is academic. There are plenty of wonderful homes available if you can afford the inflated prices of the year 2000. For all of us, whatever our ages, the availability of decent affordable housing is a most basic need. As we grow older, that basic need becomes more complicated.