California’s housing shortage is somewhere between 2.5 million … and zero

California’s housing shortage is nowhere as big as you think.
In an age where statistics can be weaponized, pro-development types will toss out the biggest shortfall guestimate they can find to make their point: Only more construction will prune California’s high cost-of-living.
Conversely, those who prefer slower growth will quote more modest shortage estimates — or even deny there’s any shortfall — to suggest reasons why we shouldn’t rush to boost new homebu