California’s sky-high living costs are sending young peo-ple packing for more affordable pastures.
As they leave, the state’s age demographics shift dramatically, leaving a worrying future in the balance.
LA’s Vanishing Youngsters
Los Angeles reveals a stark reality: a 20% drop in residents under 10 years old over the past decade.
Meanwhile, the elderly population is booming, with those aged 70 up by 40%.
Birth Rates Hit Historic Lows
The Golden State is seeing record lows in birth rates, the lowest in over a century.
With one of the nation’s lowest fertility rates, the demographic shift could have far-reaching consequences.
Outsiders Stay Out
In 2022, a mere 11% of people moving to California were from other states, the lowest nationwide.
Is California losing its allure?
Retirement Imbalance
With baby boomers aging, the balance tips as retirees are projected to outnumber children by 2030.
Will there be enough workers to support the growing elderly population?
Expert Alarm
USC’s Dowell Myers highlights the dire scenario: “California’s high cost of living…is pushing young people away.”
The result? A potentially “devastating future.”
Homeownership Hurdles
Owning a home in California?
You’d need a salary of $224,000 as housing prices soar, making it a distant dream for many.
Building Barriers
Strict regulations have escalated construction costs.
This now means fewer new homes and even higher prices.
Mansion Tax Controversy
Los Angeles’s new “mansion tax,” designed to fund affordable housing, has instead sparked debate.
Critics argue that it deters developers from building new homes, further inflating house prices.
Zoning Laws in the Spotlight
Governor Gavin Newsom’s SB 9, signed in 2021 to encourage more home building by allowing up to four units on single-family lots, faced a setback when a district court overturned it in 2022.
The court sided with cities that contended the law didn’t ensure the units were affordable.
Zoning Wars
Cities are challenging the state over zoning laws, demanding affordable housing mandates.
The ongoing legal tussle could shape California’s housing landscape.
The Future of Housing
As the legal and demographic battles wage on, what will California look like for future generations?
Will the dream of affordable housing remain just that—a dream?
