California's water restrictions could threaten the state's $39.6 billion homebuilding industry and exacerbate the shortage of affordable housing, Dave Cogdill, CEO and president of the California Building Industry Association, told GlobeSt.com.
Government-mandated water restrictions to limit the number of homes built in the state are "ill conceived," he said. A slowdown in construction could result in higher home prices and dry up inventory, which would exacerbate an already-acute housing shortage, especially in affordable price ranges, he said.
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