AnonymousBy Steve Marks
Santa Barbara’s reputation is not limited to California. People around the world have heard of our city and think of it as a place of wealth and exclusivity. For better or worse, Santa Barbara is one of the most exclusive cities in the world, as rents are high and purchasing a home is expensive for a small town.
Associated expenses with rent may vary, and some may lessen such as getting renters insurance online in California is becoming more affordable and easy. Utilities are no more expensive here than elsewhere, although the housing to income ratio remains high.
The world is changing though. As a society, we recognize that exclusivity has its downsides. It stifles the development of a diverse culture, which is less than ideal, especially for young people growing up. Can Santa Barbara accommodate more low-income renters? Or is it always going to be one of the most exclusive cities in the world?
Why is Santa Barbara so expensive?
To determine whether Santa Barbara is likely to become less expensive, we need to understand why it is so difficult for the average Californian to afford to live here.
In many cities, both in America and around the world, the demand for housing in a place is based on abstract perceptions. A place is perceived to be desirable because there are lots of jobs or good schools or big business opportunities.
While this may be true in Santa Barbara, the desirability goes beyond abstractions. Santa Barbara is undeniably beautiful. There are few more beautiful places in the world to live. Even without knowing anything about Santa Barbara, a person may well decide that it is perfect for their dream home.
Beyond the inherent value of living in a place like Santa Barbara, there is also the matter of limited supply. Santa Barbara does not have a lot of housing available, there is only so much land between the ocean and the mountains. There are also heavily debated restrictions on property developments.
Santa Barbara is also inhabited by a lot of students and retirees. Students of UCSB come and go, but the housing they leave behind often goes to a new batch of students every year. Retirees, on the other hand, come to Santa Barbara to settle down for the rest of their lives.
As such, without significant new property development, Santa Barbara is set to remain exclusive. What is the likelihood that restrictions on development will be lifted?
Should restrictions be lifted?
There are two vastly different camps of people who desire the lifting of restrictions. One camp contains property developers who stand to make a lot of money from renting out new homes at “luxury prices.” The other camp contains progressives who believe affordable housing should be made available as middle and lower class families are getting pushed out.
Most Santa Barbara residents have a simple response to the first camp: a definitive no. Why should property developers destroy the beauty and tranquility in order to get rich?
But arguing against affordable housing is more difficult. Throughout the United States, the affordable housing crisis is only getting worse. If nothing changes, we will see increased household debt, increased poverty, and increased homelessness.
So, if you want Santa Barbara to remain exclusive, does that mean you are blinded by greed? Not quite.
There is definitely a need for affordable housing. But whether there is a need for affordable housing in Santa Barbara is up for debate. This is a part of the world which has inherent value. It is a beautiful place to live and we don’t want that to change. Even the most progressive-leaning individual would have trouble persuading themself that Santa Barbara should be filled with anonymous-looking property developments.
Santa Barbara is unlikely to be at the forefront of an affordable housing revolution. For the foreseeable future, it will remain one of the most exclusive cities. How a worsening affordable housing crisis will affect its status a decade from now, however, remains to be seen.
