Problem Statement:
Since 2009, California residents have been straining to afford housing. The house shortage in California is causing an increase in pricings for housing, resulting into homelessness.
PLEASE USE ACADEMIC RESOURCES
Market and government failures:
1)Clearly explain the theoretical rationale for WHY this problem is worthy of governmental attention
2)Include specific types of market and government failures relevant to this issue and WHY (clearly explain why/how the market/government failuresapply to your problem backed up by your research).
3)Demonstrate you understand what the failures mean in theory and clearly explain (with evidence/source citation) how the failure applies to your problem in practice with a detailed explanation for each applicable failure.
4)Be sure that your government failures align with your status quo (e.g., do not say that there are no government failures and then have your status quo indicating that more government policies are needed) and that they are appropriate for your jurisdiction.
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