Apartment Construction May Not Lead To Affordable Housing
Real estate experts are noticing a new trend in San Diego housing: the new construction of more apartments. But what could that mean in this tough market?
The demand for more housing is being met with the construction of apartments on just about every corner in downtown San Diego.
A recent San Diego Union-Tribune article says construction of apartments has doubled over last year. But San Diego State University real estate lecturer Dana Kuhn said recent growth is still not meeting the need, especially for affordable housing. “It’s a doubling of a small number so now we have a larger number but it’s still not comparable to real growth areas in this country," he said.
He said most of the units being built are luxury apartments and that the current trend will at least hold prices steady.