1) The London Group report suggests a shortage in housing units of 50,000 to 118,000.
2) SANDAG estimated that San Diego will need to produce 161,980 more units of housing from 2010 -2020. After 36 percent of time elapsed, San Diego produced:
• 31 percent of the high-income units needed,
• four percent of the moderate-income units needed and
• six percent of the low-income units needed
3) This is not surprising since the easiest housing to get approved is low density and more expensive than the neighbors.
San Diego’s economy grew 1.8% in 2014 – above the 10-year average growth of 1.4% – and is forecasted to grow at substantially higher rates of 2.9% in 2015 and 2.4% in 2016.
With regards to employment, from April 2014 to April 2015 San Diego added a total of 40,900 jobs, an annual growth of 3.1%. That qualifies as the strongest year of job creation in the recovery and the highest in 15 years. San Diego’s employment is forecasted to grow 2.5% in 2015 (+33,120 jobs) and 2.5% in 2016 (+34,680 jobs). This is an attractive pace by historical standards as our average job growth over the last 20 years has been 1.7%.
