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Rent control no answer to California housing crisis

The headlines about California’s housing crisis just keep coming, and the news is always grim. Last week, Bankrate.com reported the Golden State was the worst in the nation for first-time homebuyers, with the lowest percentage of homes available for sale and mortgage costs nearly double the U.S. average. Bankrate’s analysis pointed out that high rents compounded California’s home-affordability problem by making it difficult for families to save up for down-payments.

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