The more I learn about our complex society, the more our problems boil down to a basic failing: We don’t love our children enough.No, this column isn’t about cancerous public liabilities, which diminish the future wealth of our kids in large measure to finance comfy lives and cheap health care for today’s retirees. It’s not even about California’s peculiar energy laws, which keep dirty old plants running so that solar and wind developers can get richer today with only marginal cuts to pollution, leaving the truly painful measures to future generations.Instead, this column is about the soaring cost of housing in San Diego County. Crushing rents and crazy sale prices flow directly from our choices; the inevitable result of an old-fashioned shortage, caused by government fees and limits on new construction.Not rocket science, this insight barely qualifies for Econ 101. In a functioning market, rising prices cause new suppliers to rush in. Yet in San Diego, as … [Read more...] about Column: San Diego’s housing crisis, a family problem
Fast sale house
The Union-Tribune examined if San Diego County can build more housing to slow the pace of rent and home price increases.What we found: - Zoning changes, emphasis on townhomes and reduced regulation would likely speed up construction; - Biggest hurdles continue to be anti-growth sentiments and lack of land zoned for housing;- Solutions for the future may include streamlined permitting processes, a change in parking requirements and a greater mix of housing typesSan Diego County housing: Here’s the full storySan Diego County should be awash in new housing projects.Unemployment is low and wages are rising. Many millennials are marrying, having children and aiming to buy. Their parents want to downsize.But the market is not responding.Last year only about 10,000 housing units were approved, and most were for rent, not for-sale homes and condos. Norm Miller, a real estate economist at the University of San Diego, recalls attending a recent community meeting of Morena Boulevard-area … [Read more...] about Special report: Can we build our way out of the housing crisis?
BOSTON (AP) — Massachusetts House lawmakers preparing for debate on the state’s $42.7 billion budget have submitted more than 1,300 amendments to the July 1 fiscal year spending plan, but several of the more contentious issues facing the Legislature appear to be off the table — for the moment at least. Democratic leaders have barred consideration of amendments dealing with the potential legalization of sports betting in Massachusetts. They’ve also made clear that any serious discussion of new or higher taxes should wait until later in the legislative session. The budget debate begins Monday. The Senate is expected to tackle its own version of the spending plan next month. The House plan includes more than $200 million in additional state assistance for public schools in anticipation of changes in the formula used for distributing that aid. Those changes, however, also won’t be debated until later. A closer look: DON’T BET ON SPORTS BETTING, YET … [Read more...] about Some items off the table as House takes up state budget
By Jack Katzanek | [email protected] | PUBLISHED: February 5, 2019 at 8:00 am | UPDATED: February 5, 2019 at 8:01 am The Inland Empire got a rare “star status” from a Southern California university economic forecast, which cited the region’s strong job growth and housing affordability. But the forecast, like this week’s weather, predicts some cloudy days ahead. While affordability remains strong, Chapman University warns that rising home prices and interest rates combined with flat wage gains could put a damper on the marketplace. The median price of an Inland home increased by 6.4 percent in 2018 and is expected to appreciate another 4.4 percent this year, Chapman’s A. Gary Anderson Center for Economic Research predicts. Rising interest rates, which hit 5 percent in late November, made it challenging for some to qualify for a mortgage. They have, however, eased off and were estimated at 4.62 percent at the end of January, according to … [Read more...] about Will the region’s economic star power dim as wages fail to keep up with housing gains?
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Milton J. Valencia and Tim Logan Globe Staff January 14, 2019 In the thick of an affordable housing crisis that has taken hold across Greater Boston, city councilors have proposed levying fees on high-end real estate deals to help pay for more housing — part of a bold and controversial movement across the region to tax developers who have been profiting off of a historic building boom.The proposal would set a tax of up to 6 percent on many commercial and residential sales over $2 million and establish a “flipping” tax of up to 25 percent on some properties that are sold twice within two years. It’s a bid to stem speculation and profiteering in Boston’s red-hot real estate market, the councilors say, and could raise anywhere from $175 million to $350 million a year. “We are in a crisis,” said City Councilor Lydia Edwards, the … [Read more...] about Amid housing crunch, city officials propose new real estate taxes on ‘flipping’ and sales over $2 million