A Northern California town inhabited by billionaires is facing a financial crisis, due in part to the state’s strict affordable housing policy. California’s housing policies have contributed to higher rental costs and slow housing buildout in towns such as Portola Valley, experts told the Daily Caller News Foundation. Portola Valley’s financial strain largely resulted from mandates requiring it to build 253 low-income housing units if the town wants to continue receiving government funds, according to Realtor.com.