Bay Area still isn’t building enough houses
Bay Area cities and counties built 83 percent of the homes needed to meet population and job growth over the last seven years, exacerbating the region’s affordability crunch and lengthening many residents’ commute times, according to a study by a business-oriented think tank.
While cities from Hercules to San Jose approved more than their “fair share” of housing between 1999 and 2005, other municipalities such as Larkspur and Redwood City issued permits for only a fraction of the total condos and single-family homes prescribed by a regional group of governments, said authors of the Bay Area Housing Profile.
In fact, researchers at the council expect that unless the pace of building in the Bay Area increases substantially, the housing crisis will deteriorate over the next quarter-century with the region expected to grow by 600,000 households and 1.6 million jobs.
Further proof that the Bay Area is special, and that they’re not making any more land. Just like I said – forget stock options, give me a house!