San Diego needs affordable housing
A recent article in Voice of San Diego detailed the current need for affordable housing options among listings for real estate in San Diego, referencing the 2002 declaration of a severe shortage by the City Council. In 2002, the source stated that "Rental vacancy rates were low, rents rising at a rate higher than wages and homeownership out of reach for a majority of San Diegans." The need for more than 40,000 housing units in a period of five years in order to meet city population growth was enough to declare a state of emergency.
In 2002, the city adopted a number of policies to deal with the crisis, which included: an immediate review of affordable housing, a $55 million bond for city housing funds, and the Inclusionary Housing Ordinance. The Inclusionary Housing Ordinance mandated that 10 percent of units in housing developments be priced for low-income residents to be able to afford.
Another recent article from local news source KPBS revealed that a decade after these historic housing concerns, "housing advocates worry the city has lost its focus," and it is time to reassess priorities. Voice of San Diego reported that today's need for housing is greater than ever before, and the city of San Diego estimates a need for more than 88,000 housing units by 2020. The concern over shortages of houses for sale in San Diego could be enough to spur significant construction in the coming years.