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EconoMeter panel: The high price of less homebuilding

Dan McSwain, SAN DIEGO UNION-TRIBUNE

Monday, May 9, 2016

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Kelly Cunningham, National University System

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Kelly Cunningham

Answer: YES

Housing affordability is among San Diego’s biggest economic concerns. The lack of new construction only amplifies this pervasive problem. This makes it difficult for businesses to recruit and retain employees, and challenges residents and our children to live here. Many workers already commute out of the county for housing. Even higher wages will not solve the problem, as this adds demand to the static supply of homes, and home prices will far outpace income gains.