Skip to main content

Report: San Diego Needs Up to 220,000 Housing Units by 2028

Phil Hall
Sep 22, 2017
San Diego will need to triple the number of homes constructed each year if it hopes to keep up with the current level of housing demand while keeping prices down, according to a report issued by the San Diego Housing Commission

San Diego will need to triple the number of homes constructed each year if it hopes to keep up with the current level of housing demand while keeping prices down, according to a report issued by the San Diego Housing Commission.
 
The San Diego Union Tribune is reporting that a shrinking inventory is fueling the dramatic increase in the area’s housing costs. The report stated an additional 150,000 to 220,000 housing units—covering single-family homes, condos and rental apartments—need to be built in the next 11 years, which would be between 17,000 to 24,000 a year. In the last five years, San Diego only saw 6,400 units constructed.
 
The report added that a too-pricey housing market ultimately costs the city jobs and prevents companies from recruiting new workers. The report also claimed there was an environmental aspect to this problem, because affordable housing is often far from employment and education centers and would require people to take lengthy automotive commutes.
 
In order to spur housing activity, the report recommended the loosening of parking requirements, the hiring of a citywide grants coordinator and speeding up the land-use approval in key community planning.
“Whether you are working a minimum wage job or have a college degree and working a full-time job making a decent amount of money, you still can’t afford to rent or buy in San Diego,” said Councilman David Alvarez at a press conference. “That is alarming.”

 
Published
Sep 22, 2017
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021