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Daily Business Report-Sept. 20, 2013

San Diego Home Prices Likely to Remain High


Friday, September 20, 2013

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“We have some constraints based on our geography, but it’s also part of our policy of housing,” said Kelly Cunningham, an institute economist. “We restrict or limit the amount of housing that can be built or developed and this has the effect of constraining the supply.” Cunningham said there is no reason to think San Diego’s income-to-home-price ratio will shrink much over time, because even in the depth of the recession, the ratio was higher here than what’s considered normal for the rest of the country.