Sunday, May 01, 2016

Why has there been an exodus of black residents from West Coast liberal hubs?

The L.A. Times reports on zoning out blacks:
Primary among them are restrictive planning regulations, common along the West Coast, that make it hard to expand the supply of housing. In a market with rising demand and static supply, prices go up.

As a rule, a household should spend no more than three times its annual income on a home. But in West Coast markets, housing-price levels far exceed that benchmark — a hardship that more severely affects blacks than whites because blacks start from further behind economically. Black median household income is only $35,481 a year, compared with $57,355 for whites. The wealth gap is even wider, with median black household wealth at only $7,133, compared with $111,146 for whites.
An article well worth your time.