Investment, smart energy and spending all spurred by housing market improvement in San Diego
A series of recent reports about real estate in San Diego have been positive, sparking an increasingly optimistic outlook for a housing market recovery and overall economic recovery. New reports have been coming in about numerous investments in San Diego, the build-up of technologically advanced grid systems that will transform housing, and business developments and higher levels of consumer spending, all related to upward trends being observed in the housing sector.
In a recent article in Real Estate Forum magazine, San Diego was examined closely in an effort to determine what it is about this area that has attracted and inspired continued investment and expansion. The investigation revealed that some point to San Diego's diverse local economy, some to the entrepreneurial market and some to the limited land availability.
A report in the Press-Enterprise recently indicated that consumers in Southern California who drastically reduced spending or halted it altogether when the housing bubble burst are now picking up their spending habits once again. California's Board of Equalization released a report that showed taxable sales have significantly grown, which can signify economic expansion. The report indicated that taxable sales in the city of San Diego increased 10.7 percent in the second quarter of 2011. In addition, the BOE estimates that in the second quarter of 2012, the state of California will see continued growth of 8.3 percent.
The San Diego Gas & Electric Co. and Sudberry Properties recently announced plans to incorporate the breakthrough smart grid technology for a new development in Mission Valley, called Civita. Mayor Jerry Sanders said in a statement, "The Civita project is consistent with what we are trying to achieve here in San Diego. By integrative solar power, clean transportation and energy efficiency into the very foundations of our homes and businesses, we can help preserve the environment while strengthening our community overall."
San Diego has increased its efforts in the fight against homelessness as well. According to a recent article in the San Diego Union-Tribune, roughly 1,500 San Diegans will be participating in the Sleepless America campaign to recognize homelessness and to identify and implement solutions. The source cited the U.S. Department of Housing and Urban Development, revealing that homelessness is due in large part to people suffering sudden economic hardship. The source also maintained that the lack of affordable housing is to blame for homelessness. With new developments on the rise for San Diego, positive reports for a rebounding economy and support from campaigns like Sleepless America, a higher quality of life may be on the horizon for all.