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California aims to boost homeownership by building more single-family homes instead of apartments.
California's low homeownership rate, second only to New York, may improve by shifting focus from apartments to single-family homes.
Higher homeownership states build more single-family houses; California builds fewer, with only 67% of new residences for owners compared to 78% in high-ownership states.
This policy could help increase the state's stagnant homeownership rate, which has risen just 1.5 percentage points over four decades.
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