More Evidence that Bay Area Housing Prices Are Hurting the Economy
Independent economic research group, Beacon Economics, has released their regional outlook report for the East Bay and they see job growth slowing. The reason: housing prices. "The firm sees housing costs slowing the pace of people moving into the region. Plus, the East Bay is approaching full employment at a jobless rate of 4.4 percent, Beacon said. San Francisco is already there," Mark Calvey writes for the San Francisco Business Times.
This is, by no means, the first time housing has been cited for slowing job growth and the region’s overall economy. Still, many in the region are fighting to keep developers from adding density to the popular and prosperous region.