You’re hoping that excessive housing costs don’t have an effect on consumers, aren’t you? After all, you may have supported a few of those costs and backed the local governments that charged them.
Like solar power. Who doesn’t like a renewable like solar? So, you may have looked the other way when the state imposed a system-installation mandate for all new single-family homes.
That is until you’ve entered the market for a home and you get the bill for a new one: More than $800,000. That is the median price for a home in California today. The amount will change tomorrow – and will be worse.
About $50,000 of the home price will pay for the solar panels and their installation – starting now all new homes built in the state must have them. You probably supported the solar initiative. Most people in California did.
The cost of solar comes on top of myriad local charges for approving new California housing. Those exactions are summarized in a March, 2020 study by UC Berkeley’s Terner Center of Housing Innovation and include:
• Land costs, which have doubled, even tripled over the first 16 years of the decade;… Read More