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Rents are rising at a slower pace in the Bay Area as more people make the leap into homeownership and new rental housing enters the market, says Joshua Howard of the California Apartment Association.
“Still, quite frankly, we don’t have enough rental housing in Silicon Valley to meet the demand,” said Howard, executive director of CAA’s Tri-County Division, in an interview with the San Jose Mercury News.
He also pointed to reductions in rent subsidies and the loss of redevelopment agencies for the slowing of rent increases. According to the Mercury News article, Bay Area rent prices rose in the… Read More
Tagged: Rental Prices Rent Increases Tri-County
With the Bay Area expected to grow by 30 percent over the next quarter century, building more multifamily housing isn’t an option — it’s a necessity.
In her column, Blanca Torres of the San Francisco Business Times acknowledges the resistance — albeit conflicted — to apartment development and then chips away at it.
She ends her article by listing five reasons why bringing more apartments to the Bay Area makes sense.
Each touches on an element unique to the region, such as The City’s soft spot for public transportation, its top-notch scenery and a desire to preserve natural resources.