Rising housing costs are pushing more middle-class families in California to rent rather than buy. The average cost of ownership payments for a mid-tier house in California are currently double the cost of renting a similar home. And compared to January 2020, the combined monthly cost of mortgage payments, taxes and homeowners insurance has jumped by 80%, according to the state Legislative Analyst’s Office. Some tenants rent because they can’t afford a down payment, but others prefer the greater flexibility and savings they can get from renting. To meet demand, corporate homebuilders are developing more “build-for-rent” constructions, which is raising concerns for some state lawmakers. This hour on Forum, we’ll ask if the American dream of homeownership is dying in the Golden State. And we’ll hear from you: Are you debating between renting or buying?
Guests:
Liam Dillon, statewide housing affordability and neighborhood change reporter, Los Angeles Times
Erin Baldassari, senior editor of housing affordability, KQED
Adam Briones, CEO, California Community Builder
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