According to the National Association of Home Builders, nine of the least affordable large housing markets in the U.S. and eight of the least affordable small housing markets are in California. Not surprisingly, several of those can be found in the Bay Area.

Of the large metros, San Francisco, South San Francisco, and Redwood City were the second least affordable in the 3rd quarter of 2017. San Jose, Sunnyvale, Santa Clara, Santa Rosa, Oakland, Hayward, Berkeley, Lodi, and Stockton also made appearances in the top 10 list.

Of the small metros, Salinas topped the list as the No. 1 least affordable. Napa, San Rafael, Merced, Vallejo, and Fairfield were also among the top 10 list, making the Bay Area the most represented region. 

In its analysis of housing affordability crises, McKinsey Global Institute writes that there are a few things that have to happen for the real estate challenges in California to ease up. The first is to find more land, the second is to limit local regulatory overreach, and the third is to innovate development. 

The fourth, meant mostly as a snide comment, is that “$4 gets you home on the bus.”