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California's young adults can't afford to live where they were raised.

Washington, US, 20 Aug. 2022, 12:39:00 GMT
California's young adults can't afford to live where they were raised. img#1

In 2019, there were five high school graduates for every housing unit permitted in the state of California.[1] As housing supply fails to adjust to California's growing population, home prices have risen to $900,000 as of May.[2] This is driving young adults back into their parents' homes, with 40% of Californians ages 18 to 34 living with their parents.[3]

To help local policymakers and homeowners deal with this crisis, the American Enterprise Institute is holding a series of conferences throughout California promoting "Light Touch Density". These conferences bring together the best minds in housing across a wide swath of the industry to help cities deal with their housing shortages. Academics, policymakers, lawyers, developers, and activists are coming together, bringing their expertise and proposing solutions.

The burden of California's inability to build enough housing has fallen disproportionally on younger generations. The AEI Housing Center's work shows that six of the biggest markets in California—San Jose, San Francisco, Sacramento, Los Angeles, Riverside, and San Diego—all rank among the most unaffordable cities for first-time homebuyers.

Light Touch Density is a tested solution that has provided more affordable housing in Palisades Park, NJ; Charlotte, NC; and Houston, TX. Increasing housing diversity, even for single-family detached homes, can dramatically increase housing supply and create more affordable new homes, according to a new study of 200 metros released by the AEI's Housing Center.

The lack of affordable housing is holding back younger Californians from moving up the economic ladder and accessing homeownership. If you are interested in solving this problem, please join AEI the week of September 19th.

Registration is open for 6 California free conferences to be held the week of September 19, 2022.

These conferences are free and open to all—please forward to anyone else who might have an interest. Each conference will be packed with information and presentations to help to tackle the most pressing housing issues facing Californians.

Visit aei.org/california-housing-conference to register