California’s Housing Market Faces Affordability Crisis.

California’s housing market is in the throes of an affordability crisis, with home prices remaining prohibitively high despite cooling demand. Cities like Los Angeles and San Francisco are experiencing slower sales and longer listing times, but prices have yet to significantly drop. The state’s ongoing issues with zoning laws, coupled with a lack of new construction, are exacerbating the problem. Many residents are finding themselves priced out of the market, leading to increased migration to more affordable states like Texas and Arizona.