Pushing Ahead for Housing Solutions
As a leader in providing quality, affordable housing for low-income seniors, CCH continues to examine and closely monitor the housing crisis across the nation. In California where CCH owns and/or manages 37 senior properties, the Bay Area, Los Angeles and San Diego top the list for the toughest rental markets in the country. Other cities including Sacramento, Fresno and the Central Valley similarly are experiencing their share of difficulties.
According to the Harvard Joint Center for Housing Studies, nearly one-third of Californians were severely rent burdened prior to the pandemic, meaning they spent more than 30 percent of their income on rent. The effect of the pandemic has been to further broaden the income gap. This has had a direct impact on the economy. As more money is dedicated to paying the rent, a smaller percentage of income is available for non-essentials such as consumer goods. The McKinsey Global Institute found that housing shortages cost the economy between $143 billion and $233 billion annually. This does not take into account secondary costs associated with health, education and the environment.
Articles on this site examine the economic fallout from the pandemic on housing and health care, obstacles which stand in the way of building more affordable housing and programs designed to assist renters. The time is critical to address the nation’s housing needs and to consider possible legislative solutions to overcome obstacles plaguing the market today. Everyone has a right to dignity and a safe, quality place to call home. Join with CCH in crusading for change.