This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Key Takeaways The San Francisco Bay Area exchanges people of all income levels with all parts of the country, but the origins and destinations of those coming and going differ substantially by income. Low-income residents are over-represented among those moving … [Read more...]
The Scar From Which The Construction Workforce Has Yet To Recover
One way to gauge the severity of the construction labor shortage in different places is to observe where job postings remain online for longer, suggesting greater difficulty filling jobs. Job posting data indicate that the relative severity of the shortage is greater in expensive states such as Massachusetts, New Jersey, and California, although it is also severe in a few … [Read more...]
Build In a Prosperous City and They Will Come
CityLab published an analysis on Friday in which it concluded that “...new housing in some cities may be finally making a dent in years of pent-up demand.” The question posed was whether the number of new homes built in various cities - adjusted to reflect the number of people they can house - has been in line with the number of new residents. The article is well-written and … [Read more...]
Urban Geography, Vacant Lots, and The Stunted Recovery of New Home Construction
Summary: Even as home prices reach new highs and markets are starved for inventory, the rise in the number of new homes built in the U.S. is sluggish. Homebuilders blame a shortage of labor and, crucially, a limited supply of lots. The geography within metros is telling. Home price appreciation in U.S. cities has been substantially greater towards the metropolitan … [Read more...]