California is in a housing crisis. Proud to join @HJTA & @joncoupal to discuss how we can improve affordability

California is in a housing crisis. Proud to join @HJTA & @joncoupal to discuss how we can improve affordability https://t.co/mfgS4x7dpt pic.twitter.com/bQXEBOtKIq

— Phillip Chen (@PhillipChenCA) August 12, 2017

"Longtime homeowners are winners, new homebuyers are winners and local governments are winners."

"Longtime homeowners are winners, new homebuyers are winners and local governments are winners." #Prop13 https://t.co/XtjN15Ya7C #CAPolitics

— HJTA.org (@HJTA) December 5, 2016

How Prop 13 saved San Franciscans millions; $447 million in 2015 alone: https://t.co/EKAIPxqj1c #Prop13 @HJTA

— NFIB California (@nfib_ca) December 1, 2016

Harvard: 9.4 million houses lost in foreclosure while home ownership is at 48-year low

Harvard: 9.4 million houses lost in foreclosure while home ownership is at 48-year low https://t.co/ann5EeB6vC pic.twitter.com/HML5F85S9S

— Washington Examiner (@dcexaminer) June 26, 2016

Regulations imposed by various levels of government add an average of $84,671 to the price of a new home

Govt regs add an avg of $84,671 to the price of a new home https://t.co/YTUo2oQxVg

— HJTA.org (@HJTA) May 10, 2016

“The average cost of regulation embodied in a new home is rising more than twice as fast as the average American’s ability to pay for it,” explains the report.

First President Not to See Single Year of 3% Growth...

GDP: 0.5%... https://t.co/Ujh8bsEhNH

— DRUDGE REPORT (@DRUDGE_REPORT) April 28, 2016

Business investment weakest since Great Recession... https://t.co/0mc9bsdwHD

— DRUDGE REPORT (@DRUDGE_REPORT) April 28, 2016

Lackluster. Uneven. Pain... https://t.co/L31QAzd3lV

— DRUDGE REPORT (@DRUDGE_REPORT) April 28, 2016

First President Not to See Single Year of 3% Growth... https://t.co/T0w0EgNzrU

— DRUDGE REPORT (@DRUDGE_REPORT) April 28, 2016

Homeownership rate falls to third lowest on record... https://t.co/VwMxT28k68

— DRUDGE REPORT (@DRUDGE_REPORT) April 28, 2016

In the Bay Area, where the median price for a single-family home is $700,000 -- and tilts a good deal higher in Silicon Valley, San Francisco and much of Berkeley and Oakland -- the American dream of homeownership can seem like a pipe dream.

Most Bay Area millennials plan to buy a home — somehow someday: Like so many millennials, Lara Wood and Sam Ta... http://t.co/wuAI1fAPZ8

— Silicon Valley News (@silvalleynews) September 13, 2015

Indeed, the vast majority of millennials -- typically defined as age 34 and under -- plan to buy a home at some point in the future: 91 percent, according to Fannie Mae's latest National Housing Survey. Yet homeownership for adults under that age threshold has trended downward for 40 years and now stands at 34.8 percent, a drop from 39 percent in 2009. Buried in student debt or beholden to flat wage growth, many millennials are late to launch careers, marriage and parenthood, the markers that historically coincide with homeownership.

In the Bay Area, where the median price for a single-family home is $700,000 -- and tilts a good deal higher in Silicon Valley, San Francisco and much of Berkeley and Oakland -- the American dream of homeownership can seem like a pipe dream.

"The juice isn't worth the squeeze," said Darin Alpert, 29, a sales director in San Francisco for the tech company Bazaarvoice. He chooses to rent in the Russian Hill neighborhood because he "can't justify" spending $1 million for a one-bedroom condo. Instead, he owns an investment property in San Diego.

A national survey by ApartmentList.com, a real estate website, recently found that 74 percent of millennial renters intend to buy homes, though few plan to do so within the next three years....