McKinsey & Co.’s false 3.5M figure, exaggerated by more than 2 million units, is repeatedly cited as fact by Associated Press, Los Angeles Times, San Francisco Chronicle and others.
The false McKinsey data has fueled panic in Sacramento.
Sacramento’s reaction to the false 3.5 million shortage has been unfortunate and extreme:
— Legislators are authoring panic-driven luxury housing “trickle-down” laws that displace & destroy communities, doing far more harm than good. Examples: SB 50, SB 827, SB 330, SB 592, SB 4.
— Legislators are authoring panic-driven laws that punish, and strip power from, cities and communities who insist on rational plans, not Sacramento panic.
Please click here to read the stunning, game-changing research by Embarcadero Institute.