San Diego 'significantly undersupplied' in land for housing, report shows

[Zorro]

There is limited space across the nation for new housing, but nowhere more than San Diego.

Real estate research firm Zonda said Wednesday in a new report that the San Diego metropolitan area had the fewest available lots in the nation according to its quarterly index that assigns values to the number of vacant spaces available for single-family housing.

It also said that the number of available lots had decreased 28 percent in a year, as of the third quarter 2020. That was the second biggest reduction in the nation. Nashville had the biggest drop at 30 percent.

Zonda has classified San Diego as “significantly undersupplied” since 2015. Ali Wolf, chief economist at Zonda, said a lack of space for housing would increase home prices for the foreseeable future because builders will continue to pay a premium for land.

https://www.sandiegouniontribune.com/business/story/2021-01-06/san-diego-significantly-undersupplied-in-land-for-housing-report-shows

[hunter]

1. I'm so damned old I remember beach apartments in neglected parts of San Diego were cheap.

If you were a big strong white guy you could live there doing temp labor.

[BigmanPigman]

2. S Diego home prices is rising and now is at 8%.

A local realtor said that mortgage rates are low and there is a demand for homes during Covid and this is the reason for the increase, however he said that the home value is increasing too fast and isn't sustainable. He said these values won't last much longer.