April 19th Bear Essentials: Do you like data? Us too:
April 19, 2024
Are we all sufficiently terrified of cloud seeding as a potential drought solution after Dubai flooded? Here’s what else is on our mind in this edition of Bear Essentials:
- A first-person analysis of the homelessness crisis.
- Interest rates aren’t the only drivers of the cost of housing.
- California is making strides in making a more renewable energy grid.
But first…
CA Crime Debate Intensifies
In a tug-of-war over California's crime policy, a coalition led by retail giants Walmart and Target has amassed over 900,000 signatures to qualify a ballot measure tightening penalties on shoplifting and drug dealing. Dubbed Californians for Safer Communities, the bipartisan group is challenging parts of Proposition 47, a progressive reform passed in 2014 that softened penalties to alleviate jail overcrowding. The proposed measure would mark a stark pivot, imposing felony charges on shoplifters with two prior thefts and enhancing sentences for fentanyl dealers. This initiative surfaces amidst escalating retail thefts, including high-profile smash-and-grabs, and rising fentanyl fatalities—San Francisco alone reported over 800 overdose deaths last year. As the November elections approach, the debate intensifies, casting shadows on several political careers and spotlighting the deep divides over the state’s justice policies. The $5.4 million campaign reflects significant retail backing and broader frustration among business owners and local officials weary of the crime surge.
🤫 Everything you should know
- Kimberly Knopik is a counselor at a recovery services center — and a former methamphetamine and PCP user who spent 18 years in prison. She has been sober for years and she recently wrote a CalMatters op-ed detailing strategies that will actually help those who are suffering as she did. Kimberly describesthe revolving cycle of homelessness, drug abuse, and undiagnosed and untreated mental health issues. With the right care, her nightmares could have all been avoided. Sadly, prison was the first time she received the medical attention she needed. It’s the exact systemic failure Prop 1 aims to solve. Now she is working to break the cycle as a healthcare provider. Kimberly also shines a spotlight on a common ignition point for what can become a life-ending cycle of drugs, illness, and suffering: lack of housing. The upshot? Preventative health care and affordable housing can save countless lives. CalMatters
- Southern California home prices hit a record in March. Many Californians are not waiting to move due to the current high interest rates, buyers that are planning on making all-cash offers are buying houses en-masse and contributing to the latest increase in home prices. In all, 23% of L.A. County homes sold in February were bought with all cash, up from 16% in 2021, according to Redfin. Orphe Divounguy, a senior economist with Zillow said that lower mortgage rates are not the solution. Even if rates fell considerably, it would immediately make homes more affordable, but the market will soon be flooded with more all-cash buyers which will put even more upward pressure on prices. To help housing truly become more affordable, Divounguy said, there must be more housing construction. Los Angeles Times
- The site of a failed gas-fired power plant is set to become a major battery plant. Calpine's billion-dollar Nova Power Bank near Los Angeles will be among the largest in the world when it comes online later this year, promising to power about 680,000 homes for up to four hours when charged. It could help boost California's renewable power industries which provide more than a third of the state's power needs. (In an unintentional tee-up to our next featured story) Calpine's new facility is part of the crucial growth in energy storage. Storing power is vital to achieving a 100% renewable electric grid because it allows electricity generated when the sun is shining or wind is blowing to be used late in the day when consumers need it most. Reuters
⚡️ Green Energy Revolution
The California grid was 100% renewable for at least one point in the day out of 30 of the last 38 days. During peak solar production the combined solar, wind, geothermal, hydro, and batteries combined output was able to power over 100% of the California grid day after day. That’s a major victory in the fight to make our grid greener. On some days the supply from renewables exceeded demand for up to half an hour per day. This is the first time we’ve seen this happening multiple days in a row. Electrek
🧒 Sorry, Gen-Z
While it might not be trendy to focus on Gen-Z's woes, their financial outlook is bleak, particularly in the housing department. A Rent Cafe study analyzing historical housing costs across nearly 200 U.S. metro areas found that by age 30, Gen-Z will fork out an average of $145,000 on rent, eclipsing the millennial average of $127,000. The priciest spots? San Francisco and San Jose, where the tab runs up to nearly $300,000. FOX 5.
🚂Big Boy is Coming
Big Boy No. 4014, the world’s largest operating steam locomotive is coming to the state. The locomotive has traveled over one million miles since Union Pacific took delivery of the mondo choo-choo in 1941. The engine was retired in 1961 and was recently taken to Wyoming for restoration. Now, Union Pacific is taking Big Boy on a road show. It’s scheduled to arrive in Roseville, CA on July 12. FOX 40
SCOTUS comes to California developers’ rescue?
Dan Walters pushed his article highlighting a SCOTUS ruling on traffic mitigation fees in a California case involving an El Dorado County man trying to put a manufactured home on his lot but faced high local fees.