Sign Up For Our Mailing Lists

InsiderOnline Blog: May 2014

Image of the Week: Houston Is Building More New Homes than the Entire State of California

This chart comes from Mark Perry, who points to land-use regulations as the likely culprit:

The religion of “open space” in California probably helps explain why there’s more new construction of single-family homes in Houston than in the entire state of California. And those “open space”-driven housing restrictions in California help explain the high cost of housing there relative to Houston. During the month of March, the median sales price of homes sold in California at $376,000 was almost exactly double the median sales price of homes sold in Houston at $189,000. The median sales price in the SF Bay area in March was $579,000, more than three times the median sales price in Houston. And those huge differences in housing prices probably help explain why firms like Toyota and Occidental Petroleum are moving from California to Texas, joining other firms including Industrial Brush, General Motors, DHF Technical Products and Sony Pictures that have relocated operations this year to Utah, Michigan, New Mexico and British Columbia respectively. Expect more out-migration of people, jobs, businesses and one-way U-Haul trucks from California in the future…. [AEIdeas, May 10]

Posted on 05/16/14 06:42 PM by Alex Adrianson

Heritage FoundationInsiderOnline is a product of The Heritage Foundation.
214 Massachusetts Avenue NE | Washington DC 20002-4999
ph 202.546.4400 | fax 202.546.8328
© 1995 - 2015 The Heritage Foundation