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New data shows that Bay Area housing increased by only 14,900 new units in 2017, less than 30 percent of the number of new jobs in the region during the same period, according to data released by the Metropolitan Transportation Commission and the Association of Bay Area Governments.
The number of new housing units, mostly apartments and condominiums, was much less than the 52,700 new jobs estimated by the California Employment Development Department to have been added in the nine-county Bay Area last year.
The imbalance highlights the region’s “housing crunch” and reinforces its position as one of the nation’s most expensive places to live, MTC officials said.
Other findings show that permits for single family homes have stagnated since 2008, while multifamily units like apartment buildings have nearly doubled to 15,000 in 2016 from 8,000 units in 2009. Multifamily housing accounted for 70 percent of the 21,000 units permitted by Bay Area municipalities in 2016.
The data is part of the Vital Signs initiative by the MTC and ABAG that monitors the region’s progress toward reaching key environmental, transportation, land use, and economic policy goals. More information on housing production data and other findings can be found at vitalsigns.mtc.ca.gov.
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Who is surprised by this? Prop 10’s repeal puts investments at the whim of communities that misunderstand rent control.
Hw many workers live in each of the new housing units?
If three live in each unit, it is pretty close to the employment growth.
Meanwhile, the roads are gridlocked and government fees (water, sewer, garbage) continue to rise.
Bay Area has only limited space to build housing, it’s impossible to add same amount of new house units every year, unless land will grow by itself. People bring this question to the table are either ignorant or didn’t do their homework.
Robyn, 3/unit is an aggressive assumption, but I don’t think two/unit is. That would leave a deficit of 28k units which is still a big gap.
What are the numbers for MV? It sure looks like we have been doing more than our fair share or at least a high percentage of the housing added, certainly more than Los Altos and Palo Alto over the last several years. Can someone post numbers for each city? Thanks.
New single family homes will stagnate forever into the future, except in Gilroy and south. That’s a function of the lack of undeveloped land. Any additional housing units will have to come from increased density, which means duplexes at a minimum, and more likely large apartments and condos.