Part 9/13:
A noteworthy policy shift involves the upcoming loss of zero-emission vehicle (ZEV) credits in the U.S., a development that could cost automakers billions annually. However, market participants suggest that this change may not be a black swan event, as it appears to be anticipated and already priced into valuations.
In terms of legislative efforts, California’s recent permits reforms aim to streamline housing development but fall short of alleviating high costs or addressing population outflows. The state’s shrinking youth demographic underscores the challenges faced by its progressive policies, which—despite promoting environmental goals—may inadvertently accelerate depopulation of young families in search of affordability.