California: The Land of Regulation
7th June 2026
California’s punishing cost of living isn’t inevitable—it’s policy-driven. Burdensome regulations have sent housing and energy prices soaring, crushing incomes and deepening poverty. Smarter deregulation could bring back the Golden State’s long-lost affordability and historic role as a “land of opportunity.”
In 2024, California had a poverty rate of 17.7%, meaning about 7 million people were unable to afford basic necessities, well above the national rate of 10.6%. Child poverty nearly tripled from 7.5% in 2021 to 18.6% in 2024. The state also reports the nation’s largest homeless population of 187,084 individuals in 2024.
These outcomes stem from an economy burdened by regulations, particularly those governing housing supply and energy production, which inflate costs and trap Californians in cycles of poverty.