By David Jackson / San Diego UrbDeZine
A Population Boom and a Housing Crunch. Rising prices and short supply are making it increasingly difficult to pay the rent in San Diego. If you’ve attempted to search for a place to rent in San Diego you’ve probably encountered more than a few roadblocks and had your fair share of frustrations. The challenges multiply if you’ve tried to find something affordable anywhere near where you work.
Housing prices have soared over the last several years to the delight of homeowners and landlords, but to the dismay of renters, especially those with lower incomes. The effects are being felt most directly by low income residents and millennials. New low income housing is needed in the short term with further developments in the coming years to prevent the city’s housing crisis from turning into an economic one.
A study by the London Group published by the San Diego Chamber of Commerce highlights one of the root causes for the housing shortfall, a lack of new building permits being issued in San Diego County.