A Proposed Amendment to California’s Constitution to Resolve the Housing Affordability Crisis

Source: Independent Institute
by Lawrence J McQuillan

“Despite much hand-wringing by California politicians and bills in the state legislature with lofty goals and rhetoric, home prices in California continue to set new records. Apartment rental prices also continue to soar in Southern California, the Central Valley, and Northern California. A decades-old crisis of this magnitude demands bold action. California had a Tax Revolt in the 1970s when homes were seized because homeowners could not afford to pay outrageously high property tax increases. Today, California needs an Unaffordable Housing Revolt in the form of a ballot initiative led by Californians to overcome government restrictions on private property rights that artificially constrain housing supply, causing sky-high home and rental prices.” (03/25/24)