So, I have to agree there is a major shortage of affordable housing. But, I have to disagree that this is due to a lack of building. 20 years ago, there was no housing crisis. Period. In 20 years, did the population suddenly increase by 20%? No, of course it didn't. In fact the US population is very flat in recent decades. What changed? Short term rental!!! A huge portion of the housing stock purchased, much by corpo…
Even if the country's population stayed the same, an increase of people wanting to move to Santa Cruz will drive up demand for housing in Santa Cruz. When you have sustained increases in demand over multiple decades but local governments that block any and all attempts at constructing housing supply to match, you get the ballooning prices you see now. That there is plenty of housing supply in Nowheresville, Nebraska is of little use to the people who can't afford to live in Santa Cruz.