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How California’s Housing Market is Failing to Meet the Needs of Low-Income Families in California

California is showing increasing economic and fiscal strength with economic growth among the top five states in the nation and a budget that is in the black for the first time in a decade. Yet this good news is tempered by the growing severity of an age-old California problem: the private housing market is not providing an adequate number of homes affordable to low- and moderate-income households. The shortage is particularly acute in the rental housing market, typically the last resort for lower-income households, many of whom were forced out of single-family homes during the Great Recession and have little chance of becoming homeowners in the near future.