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Housing Regulation

All articles tagged with #housing regulation

San Francisco's Housing Deadline Crisis Sparks Regulatory Standoff

Originally Published 2 years ago — by The San Francisco Standard

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Source: The San Francisco Standard

San Francisco has missed a deadline for passing legislation to expedite housing approvals, prompting a standoff with state housing officials. The state is giving the city another 30 days to get the bill on track before potentially revoking its permitting authority or withholding state funds. The bill in question, Mayor London Breed's Constraints Reduction Ordinance, has been repeatedly stalled in committee due to unnecessary amendments. The city is now at risk of falling out of compliance with state law, and community groups are rallying against the legislation. The state housing department is not budging on the deadlines.

Luxury Apartments Continue to Thrive in U.S. Cities Despite Housing Recession

Originally Published 2 years ago — by CNBC

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Source: CNBC

Despite a housing recession, more than 400,000 luxury apartments are expected to be completed in the US in 2023, with much of the new stock built for upper-tier customers. Market-rate rents for new apartments can easily be multiple thousands of dollars monthly, making them unaffordable for moderate-income Americans. Builders blame the high cost of housing on the large amount of regulation in the housing sector, with 40% of the cost of multifamily development being in regulation. The Biden administration has announced a housing action plan to shore up housing supply within five years, but it may not have a material impact on prices for some time.