Despite relatively strong performance by the office sector so far, a lack of new housing construction combined with double-digit housing price inflation could undermine San Diego County's job market, according to a commercial real estate analyst.
Although job growth has been furious over the last seven year s, housing hasn't even begun to keep up, Russell Valone of MarketPoint Realty Advisors told the San Diego Building Owners & Managers Association at the Hyatt Islandia Hotel on Tuesday.
The percentage of households in California able to afford a median-priced home decreased by seven percentage points in April compared to a year ago, according to a report released June 6 by the California Association of Realtors.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
