The cost of an average home in California is about $870,000. To afford a mortgage that includes taxes and insurance on such a home, a household would need an income exceeding $250,000 per year. However, the average household income in California is $136,000. Some say prices or interest rates must drop. Others argue low supply will keep prices high. Our guest Curt Pringle—former mayor of Anaheim and California Assembly speaker—has spent decades observing issues with the state’s construction code.

“What the state has really done in these last couple of years is pass a lot of pieces of legislation that try to force housing, but then they tie things onto the legislation that almost make it impossible to use those laws to develop housing,” says Pringle.

Views expressed in this video are the opinions of the host and guests and do not necessarily reflect the views of The Epoch Times.