There are a number of building projects around San Diego that are allegedly on hold because they are waiting on permits to be approved by the city, and recent reports suggest that the city has been overloaded by that backlog.
This is one region in the US where they are facing a severe housing crisis, having been found to recently have possibly the worst housing affordability in the country. It isn't only popular regions like San Diego that are short to meet the demand either.
One 2021 study suggested that the US market was short some 5 million homes or more to meet the current need that is there. It has long been admitted that there is a severe housing shortage, especially an affordable housing shortage, around the country.
There are millions of homes that are needed and there is a costly and lengthy process to get to building them that looks to be getting clogged up in some spaces. The longer that those builders need to wait on approval it is going to take that much longer to build and get people into homes who are waiting and who need a roof over their heads. This is one of the most basic needs for billions of people and the housing market overall has been pushed to arguably unacceptable levels of ineffectiveness. The market is heavily restricted to the point of being unable to match the demand, with those who are open to offering available product options, meanwhile the housing crisis and affordability is open to worsening in terms of price, time, and quality of options that are offered. With all of the creative advancements and innovations around us today you'd think the problem would be able to easily improve rather than get worse.
pics:
pixabay
Sources:
https://www.cbs8.com/article/news/local/city-of-san-diego-facing-overloaded-building-permit-backlog/509-04676ecf-1c36-4c98-9ad3-c4431f722ce2
https://www.cnbc.com/2021/09/14/america-is-short-more-than-5-million-homes-study-says.html
https://www.kpbs.org/news/local/2022/02/17/report-san-diego-most-unaffordable-housing-market
https://mises.org/wire/we-need-more-housing-not-more-rent-control
https://mises.org/library/crazy-housing-market