On the latest episode of Policy Chats, Economics professor Bree Lang discusses the growth of the housing crisis and its root causes.
“So the US Department of Housing and Urban Development, they define affordability as someone who is spending 30 percent or less of their income on housing. And if you look in California in particular, in the mid 20's, 80 percent of households were spending more than 30 percent of their income,” said Lang, an expert in public finance and urban labor economics. “I have it written down, 30% of people, this is the mid 2000s, were spending over 50% of their income on rent.”
The episode with Lang also delves into other topics that include the housing market, the efficacy of government intervention, and Lang’s personal insight as to the importance of being aware of the housing crisis. Listen to the episode here.
Launched in 2020, the UCR School of Public Policy podcast series explores current public policy issues with guests from throughout the policy world. Episodes are accessible via Spotify, Apple Podcasts, and Anchor. More information is also available through the UCR School of Public Policy podcast page.