https://www.siliconvalley.com/2024/04/25/california-multifamily-home-permits-hit-10-year-low/

The hopes of California tenants that a wave of apartment construction might provide more rent relief may be fizzling in early 2024.

Construction plans for multifamily housing plunged to a 10-year low, my trusty spreadsheet found after peeking at quarterly California building permit patterns from the Census Bureau complied by the St. Louis Fed. Multifamily housing is primarily apartments plus certain ownership condos or townhomes.