Thoughts on Why California Can't Fix Housing Problem

Even California's liberal Democrats are starting to understand that the state's housing crisis is fundamentally a supply-and-demand problem. Home prices have soared to astronomical levels, with a median price above $750,000 in the nine-county Bay Area and nearly $700,000 in Orange County. Years of growth controls and local regulations have restricted housing supply and added as much as 40 percent to the price of every new home that's built.