California is losing population and building new houses. When will home prices come down?

Posted on AllSides May 15th, 2023
From The Center
Jeff Chiu, AP Photo

This month Californians worried about the cost of housing were offered the rarest of gifts: a glimmer of hope.

New numbers released by the Newsom administration show that California added homes to its housing stock at a faster clip than any time since the Great Recession — 123,350 additional units, or an increase of 0.85%.  

Over that same period, the state’s population declined, marking the third year in a row that it’s fallen from one new year to the next.

Put those two numbers together and a surprising statistic emerges: There are now...

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