Industry: Construction
April 30, 2015
Based on those cities' building permit processing history over the last three to five years and estimates from about 20 development companies, Reaser's group concluded that regulation could represent up to 55.9 percent or $480,746 of the cost of a new $860,000 apartment or condo in Carlsbad.
Living in decent, affordable, and reasonably located housing is vitally important to every Californian. Unfortunately, housing in California is extremely expensive and, as a result, many households are forced to make serious trade-offs in order to live here. While many factors have a role in driving California's high housing costs, the most important is the significant shortage of housing in the state's highly coveted coastal communities. We advise the Legislature to address this housing shortfall by changing policies to facilitate significantly more private home and apartment building in California's coastal urban communities.
March 19, 2015
The San Francisco metro area – where the $952,162 median home price is more than twice the state median – seems to have all the symptoms that the state’s legislative analyst office says causes a housing sickness across California’s coastal cities. High housing costs in those cities are caused by insufficient supply, which are in turn caused by community resistance, environmental objections and scarce land.
March 17, 2015
"California’s unfortunate evolution into a society of haves and have-nots has many root causes, but a highly distorted housing market looms very large. We have the nation’s second highest home prices (only Hawaii is higher) and, not surprisingly, its third lowest level of homeownership."
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