Opinion: Soaring Building Costs Are Slowing Housing Recovery
In an op-ed in Fox & Hounds, housing expert Timothy Coyle weighed in on California’s housing crisis and the necessity of breaking down regulatory barriers to create housing.
“Construction costs are so prohibitively high now that there is no way California can build its way out of its current housing mess without some things radically changing. If Governor Newsom’s target – 3.5 million new housing units by 2025 – is the right number, and only half of them are multifamily, the cost of construction will run into the 10s of billions of dollars each year, making the current statewide bond amounts a mere spit in the ocean.”
Read more here.