Alum - how bad is housing, really?

Hello! I am a UCSC alum along with my husband ('95 and '92). Our kid had been admitted and I'm wondering just how bad the housing crisis really is, if it makes UCSC a dealbreaker for some or if it's just something that is dealt with - a pain, but manageable. He has options for a CSU with two years guaranteed housing and for a few small privates where housing won't be an issue at all. But.. Banana Slugs! Obviously we have some loyalty.