"California's housing market remains one of the most challenging in the nation. The state earned an F on Realtor.com® State-by-State Housing Report Card, part of the Let America Build campaign that measures how effectively states are balancing affordability and construction. In all fairness, California has been plagued by many unique obstacles, particularly in the past year and the devastating wildfires, but even before those events, the state struggled with housing."
"In a post on his Truth Social platform in early October, he accused major builders of hoarding lots to prop up prices-likening them to OPEC, which restricts oil output to maintain high prices. "They're my friends ... but now, they can get Financing, and they have to start building Homes. They're sitting on 2 Million empty lots, A RECORD," Trump wrote."
"California earned a total score of 19.5, ranking near the bottom of all 50 states and Washington, DC. The state's median listing price of $756,185 at the time was among the highest in the nation, while the median household income of $92,605 falls far short of what's needed to buy a typical home. The Realtor Affordability Score came in at 0.43, reflecting a market where only a small fraction of homes are affordable for average earners."
California's housing market remains highly constrained, earning an F on a state-by-state housing report card and confronting unique obstacles, including recent devastating wildfires. Median listing prices near $756,185 contrast with median household income around $92,605, producing a Realtor Affordability Score of 0.43 that indicates few homes affordable to average earners. New construction lags population growth: California produced 6.8% of new housing permits in 2024 while representing 11.7% of the U.S. population, yielding a permit-to-population ratio of 0.58. Federal pressure has urged large builders to increase construction, with accusations they are hoarding lots to sustain prices.
Read at SFGATE
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