Why Real Estate and Housing Prices in California Continue to Rise | Lee Ohanian

California is facing a housing shortage as the median price of real estate exceeded 700,000 thousand dollars for the first time in the state's history in 2020.
My guest today is Lee Ohanian. He is a professor of economics at UCLA and senior fellow at Stanford's Hoover Institution.
Today he discusses the root cause of California's housing shortage and the high cost of real estate.
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