Look what happened in Austin, TX, which has much less housing regulation tamping down construction than CA (despite a good deal of local NIMBYism).
Prices spiked during the pandemic, and in response a shit ton of housing was built, much of it multifamily residential. Rents went down significantly and home prices are down 20% since the peak.
Prices spiked during the pandemic, and in response a shit ton of housing was built, much of it multifamily residential. Rents went down significantly and home prices are down 20% since the peak.