I'm a community organizer in Chico, where the population increased from an estimated 93,000 to 112,000 or around 20% on November 8, 2018. Before the fire rent burden in Butte County was the highest in the state, and Chico had a <3% vacancy rate.
Almost immediately afterwards, Chico became listed as 'hottest real estate market in the country' as home prices exploded. While home sales may be slowing, demand for low-income rentals is off-the-charts and shows no sign of abatement. The city is temporarily allowing RV camping, but not nearly as much as there is need for. Many landlords immediately took advantage, raising rents, but they are limited to 10% by an emergency price-gouging ordinance. This has created a 'bifurcated' situation of so-far stable, comparatively low rents on one end, with the other extreme being the new luxury apartments which were in construction before the disaster.
Given that Chico has the national norm of building restrictions which prevent population beyond the housing capacity to be absorbed in shantytowns, what precedents are there for a 20% overnight population increase? What effects can we predict on the rental market, in the short, mid, and long-term? What policy responses seem urgent to you?
All recommendations of case studies, literature, observation, and inferences which would inform the situation we will greatly appreciate.
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