Two New Studies Say Housing Shortages Restrict Economic Growth

An article in the LA Times looks at two new reports from UC Riverside and UCLA indicating that starting in 2017, California's economic growth will be restricted by its lack of housing. Chris Thornberg, an author of the UC Riverside study, explains, "If we aren't going to build new housing to meet demand, we are going to limit population growth and limit economic growth." This is particularly the case in states with low unemployment rates, as expanding businesses require new workers who are likely to be moving from other states looking for jobs. Read more.