Saturday, December 5

Tag: housing

70,000 New Homes But Still Not Enough
Demographics

70,000 New Homes But Still Not Enough

By Sharon Simonson Same as it ever was. Even with nearly 70,000 new homes built in the Bay Area in the last five years, according to new U.S. Census Bureau data, 2015 population counts exclaim the continuing and huge disconnect between demand to live in the region and the production of new abodes. To keep pace with population growth of more than 450,000 since 2010, the region’s five primary counties—Santa Clara, Alameda, San Francisco, Contra Costa and San Mateo—should have built 155,630 new homes, based on an average of three people per household. That’s 83,000 homes more than were produced.  The existing housing stock absorbed at least some of the difference, with the average number of people per home rising in every county. Nationally, the average number of people per ho...
ULI: Housing Costs, Poor Amenities Souring Bay Area Residents on Region
Demographics

ULI: Housing Costs, Poor Amenities Souring Bay Area Residents on Region

By Sharon Simonson SAN FRANCISCO — The Bay Area’s high housing costs, limited housing diversity and inadequate amenities are reducing life satisfaction for all residents but especially the millennial-generation of young adults whose labors are helping to fuel the technology industry boom. According to a new report from the Urban Land Institute, the disquiet is most acute in Santa Clara County, where residents of all ages are the least satisfied with their current living choices and the least confident of their ability to buy a home or rent an apartment they want. Santa Clara County has the highest concentration of technology companies in the region and the highest proportion of millennials. South Bay residents are also the most likely to feel that they lack desirable, nearby o...
Immigrants Are Driving the Bay Area Housing Market
Uncategorized

Immigrants Are Driving the Bay Area Housing Market

By Sharon Simonson Immigrants to this country who have become U.S. citizens are driving the Bay Area housing market, owning their homes at rates as much as 13 percentage points higher than the American-born, according to new U.S. Census Bureau estimates for 2013. In Santa Clara County, that coincides with foreign-born citizens’ greater representation in management, business, science, and art occupations and with an outsized presence in manufacturing industries. It also matches with a greater likelihood of living in a bigger house and a higher median household income—$97,000 for foreign-born U.S. citizens versus $91,325 for the U.S.-born. In San Francisco, not quite half of households of foreign-born U.S. citizens own and occupy their own homes compared to 35 percent of U.S.-bo...