Local Development Practices Shape Housing Affordability in Nation’s Two Most Populous States

With a combined 70 million residents, California and Texas are home to nearly 21% of the nation’s population. But, in many ways, the two states are very different. From a business-process perspective, California tends to take a more progressive regulatory stance while Texas usually opts for a more laissez-faire approach, the effects of which can be seen in the performance of their respective multifamily sectors.