“We are facing the gravest crisis in housing unaffordability and inequity in recent history,” says Fishman. “We are in a new period where housing has become a commodity and private consumer good bought and sold by institutional investors,” she says.
If California was a country it would have the sixth largest GDP in the world, directly behind the United Kingdom and slightly ahead of France. However, as the economy has grown, so has income inequality. According to the most recent Annual Homeless Assessment Report by the US Department of Housing and Urban Development, California accounts for nearly half of all unsheltered people in the country.