Some of the key factors influencing the cost of living in California are housing costs, the price of food and utilities, the cost of gas, and demand in popular parts. You'll also find a real mix of properties and housing environments if you consider moving to California. These high rates are due to economic factors such as high cost of living, lack of affordable housing and low wages. The state of California has some of the most expensive housing in the country.
In a new investigation, Kristoffer (Kip) Jackson investigates why homes in Golden State have come to cost so much. He finds that everything depends on how land use is regulated; each new land use regulation reduces a California city's housing supply by 0.2 percent per year. In addition, regulation has an overflow effect, as neighboring cities increase their own regulations in response to those of others to avoid taking on all the new development of a region. California Governor Jerry Brown's recent attempts to ease the state's regulatory impact are moves in the right direction, but more needs to be done to counter the effects of years of tight local restrictions.
Foreign buyers, mainly from China, have also become increasingly enamored with California real estate. In short, Californians are subject to the highest state income taxes (13.3%) and the highest base sales tax (7.25%) in the nation. The state has something for everyone, whether it's Silicon Valley, Hollywood or any other number of distinctly Californian dreams. California is also home to several world-class cities, such as Los Angeles, San Francisco and San Diego.
But there are many factors unique to California, from the shape of our coastline to Proposition 13, that have put a painfully expensive price on California's dream. In California, some counties evaluate what is locally known as “improvement assessment” or taxes on new construction only. California is a huge state and its residents drive a little more miles than the average driver in the United States per year. California has a lot to offer in terms of opportunities with the varied landscape and climate patterns, which offer something for everyone throughout the year.
It's estimated that about half of Californians missed at least one preventive appointment or screening because they couldn't afford copayments, in addition to high premiums. There have been problems with past residents unable to sell their properties because they don't meet all current standards set by California officials. According to the Office of the Legislative Analyst, construction labor is approximately 20 percent more expensive in California's major cities than in the rest of the country. Other people come to California later in life looking for a complete change of pace and environment from what they were used to.
