What Impact Will the Infrastructure Bill Have on the Housing Crisis?

 

Appraisal Buzz reports on the new infrastructure bill that was recently signed into law.

What Impact Will the Infrastructure Bill Have on the Housing Crisis?

Real Estate Buyers Listing Agreement

 

First Tuesday is one of my favorite resources for real estate information.

This site is designed for real estate agents but also has value to real estate buyers.    

This week they are reporting on the Real Estate Buyers Listing Agreement.

Historic Downtown Theatre Must Be Torn Down

 

City of San Diego Orders a historic downtown theater to be demolished.

Chula Vista Waterfront

KPBS reports on the Chula Vista Waterfront Project.  This massive development will be changing the face of South Bay San Diego.

San Diego Millennials

 

NBC news reports on the composition of San Diego Millennials (aged 26 to 41)- a driving force behind our local real estate housing market and demand as tenants for the apartment sector.   The U.S. Census Bureau says 70% are home grown,  9.2% are from L.A, and 2.37% are from the San Francisco bay area. The other major sources of San Diego Millennials are Chicago, Phoenix, and Seattle.

Costar Reports Apartment Rents Continue to Increase Throughout San Diego County

 

According to Costar's Second Quarter, 2022, Multifamily Report, "asking market rent growth is soaring, and it is trending near its highest level in two decades. Performance has been driven by mid-tier and 4 & 5 Star inventory where rents are rising 15.8% and 13.3%, respectively, year over year. More than half of San Diego submarkets have recorded double-digit rent growth in the past 12 months."

City of San Diego Ordinance for No-Fault Evictions That Took Effect on May 22, 2022

 

City of San Diego Ordinance for No-Fault Evictions took effect on May 22, 2022, and is ​in place until September 30, 2022,​ or sooner based on the City ending the moratorium with the resolution of Covid.​  The link to the ordinance is here:  City of San Diego No-Fault Ordinance  

The ordinance was explicitly designed not to allow evictions to renovate until September 30, 2022.   They handled this by stating that evictions can only occur for court-ordered renovations. The law does not openly say that evictions for other renovations cannot happen. It simply omits any mention of this as something that is not allowed.  This City of San Diego ordinance extends to duplexes and single-family rentals as well as apartments.

A youtube video posted by a realtor about the new regulations is here:  Realtor's Summary of the new law.

The City of San Diego Approves a New Eviction Moratorium For Apartment Owners

 

The City of San Diego Approves A New Eviction Moratorium For Apartment Owners

City of San Diego Passes New-Short Term Rental Laws

 

Years in the making, the City of San Diego has approved a new plan for short-term rental regulations.  

All of the details are reported here: New Short-Term Rental Laws Passed by City of San Diego

Fire Risk Map

 

The risk of wild fires and property damage is changing.

Feds Start Addressing The U.S. Housing Crisis

 

Worried about the fact that there is no reasonably affordable housing in San Diego?

Relax - The Government Says It Has A Plan!

"WASHINGTON — Amid skyrocketing housing prices, President Joe Biden's administration is taking new steps to spur more affordable housing as the White House seeks to close the U.S. "housing supply gap" in five years.

Among the efforts is increasing federal assistance to help finance and produce more factory-built manufactured homes including mobile homes.

Freddie Mac recently announced it is exploring purchasing chattel loans, on which the majority of homeowners who buy manufactured homes rely rather than traditional mortgages.

The Federal Finance Housing Agency has also committed to work with lenders to begin a pilot program to offer financing for the construction and renovation of accessory dwelling limits, which are typically cheaper than traditional homes. This housing includes garage apartments, backyard homes and in-law suites.

These and other measures were outlined in a new housing supply action plan the Biden administration unveiled Monday."  Source: USA Today

San Diego Median Home Price Reaches One Million Dollars

 

The median sales price of a home in San Diego reaches one million dollars.

New Waterfront Resort Construction To Begin Soon in Chula Vista

 

Bayfront Project In Chula Vista Is Set To Move Forward

The resort development is part of a larger master plan that has been decades in the making with the Port of San Diego. 

Chula Vista Bayfront Master Plan

The Chula Vista Bayfront Master Plan is a local and state-approved land use plan by the Port of San Diego and City of Chula Vista. The plan envisions:

70 acres of new parks (100 acres total, including existing parks)

120 acres of open space, habitat replacement, wetlands and ecological buffers to protect wildlife habitat, species and other coastal resources

Shoreline promenade, walking trails and bicycle path network

2,850 total hotel rooms

600,000 square feet of restaurant, retail and marina-support uses

220,000 square feet of mixed-use commercial recreation/marine-related office uses

1,100 – 3,000 space parking facility

Chula Vista Bayfront Plans

Two Downtown San Diego City Blocks to Be Redeveloped

 

Downtown San Diego City Blocks To Be Redeveloped

New Map Shows Housing Market Inflation Estimates Prepared By Moody's Analytics

   

Fortune magazine overvalued housing map.

US Population Tracker

 

Census U.S. and World Population Clock

KPBS Reports on Complete Communities In San Diego

 

KPBS has written a feature article about Complete Communities in San Diego.

City of San Diego Housing Solutions Map

 

The City of San Diego has come out with an online map of sites that are a part of the Housing Solutions regulations based on their location within a Transit Priority Area and zoning for multiple dwelling units

Complete Communities Location Map

60 Minutes Reports On Rising Apartment Rents And Housing Shortage

 

Sixty Minutes reports on the causes of rapidly increasing rents and the housing shortage.  

Rapidly Increasing Apartment Rents

Real Estate Market Appreciation In San Diego