Today on the Southern California Real Estate Report we talk about how San Diego's program to build more housing around transit centers has become a success.It is being adopted by the State of California.Learn our opinion of this program is this weeks episode.https://www.msn.com/en-us/money/realestate/opinion-san-diego-s-affordable-housing-policy-is-working-now-it-s-being-extended-statewide/ar-AAZKdtc?ocid=entnewsntp&cvid=58120426c1434f77bf2e9c375e6ec3d9 (https://www.msn.com/en-us/money/realestate/opinion-san-diego-s-affordable-housing-policy-is-working-now-it-s-being-extended-statewide/ar-AAZKdtc?ocid=entnewsntp&cvid=58120426c1434f77bf2e9c375e6ec3d9)

Today on the Southern California Real Estate Report we talk about a new study from the Bureau of Labor Statistics that shows a growing gap between new renters and existing renters.In current market conditions new renters are paying a lot more to rent that same units compared to renters that have been have lived in the same place for a period of time.There appears to be more movement in the market as things shift from pandemic days."data show gap among new and existing renters." Union Tribune. Somesh JHA, July 12, 2022. Online

Today on the Southern California Real Estate Report we talk about a new multifamily property in the Kearny Mesa Area of San Diego.The project will be 531 apartment units that we be in the area known as the Convoy District. Its location is where the old Dixieline was located.It will add much needed residential units to an area that over the years has turned into a central bustling community.Project will add 531 apartments to San Diego's Convoy District — where there are none today - The San Diego Union-Tribune (sandiegouniontribune.com) (https://www.sandiegouniontribune.com/business/growth-development/story/2022-07-02/project-will-add-531-apartments-to-san-diegos-convoy-district-where-there-are-no-homes-today)

Today on the Southern California Real Estate Report we talk about a new luxury apartment complex in Little Italy.The Developer, Toll Brothers Apartment Living, broke ground on a 22 residential units luxury apartment complex.The building will be 37-story of for rent units. Article referenced:Toll Brothers Breaks Ground on 37-Story Luxury Apartment Complex in San Diego’s Little Italy - The Registry SoCal Real Estate News (https://theregistrysocal.com/toll-brothers-break-ground-on-37-story-luxury-apartment-complex-in-san-diegos-little-italy/)

Today on the Southern California Real Estate Report we look which markets might do better in a market crash.Predicting the further is often saved for economist but even they don't have all the answers.Good news is San Diego is predicted to fair well if a housing market crash happens.San Diego's low housing supply is one factor to considerArticle referenced:https://www.mpamag.com/us/mortgage-industry/market-updates/real-estate-crash-which-markets-will-survive/408536?Region=United+States

Today on the Southern California Real Estate Report we talk about the 30 foot building height limit set in many coastal areas of San Diego and how a low income housing project might break that height restriction.A project in Pacific Beach called the Rose Creek Apartments, got the OK from the California's Department of Housing and Community Development to build above the 30 foot limit.Its still a long way off from breaking ground and we do not know what amount of community opposition it will face.Todays article referenced:https://www.sandiegouniontribune.com/news/politics/story/2022-02-08/san-diego-oks-large-package-of-housing-incentives-including-accessory-units

Today on the Southern California Real Estate Report we talk about the uncertain housing market.We are starting to see some signs of chances in the housing market.Homes are sitting longer, home prices are not getting bid up as much and buyers are not rushing into making quick home buying decisions like they were only 2 months ago.While the market is still hot, a cooling effect is starting to take place.Today we referenced two articles:https://fox5sandiego.com/news/local-news/san-diego-weekly-real-estate-update-5/https://fortune.com/2022/06/07/housing-market-inventory-levels-are-rising-again-breakdown-in-americas-400-largest-markets/

Today on the Southern California Real Estate Report we talk about the latest news on Sports Arena.There are three projects on the table: Midway Rising by Chelsea Investment Corp (https://midwayrising.info/)Town Home SD by (https://www.livehometownsd.com/)Monarch Group (https://www.livehometownsd.com/)& Midway Village + by (https://midwayvillageplus.com/) BRIDGE Housing, Toll Brothers, and Revitate.  (https://midwayvillageplus.com/)All three are strong contenders but the City is favoring Midway Rising because it has the most affordable housing.The Short List for Sports Arena Is Back | Voice of San Diego (https://voiceofsandiego.org/2022/05/24/the-short-list-for-sports-arena-is-back/)

Today on the Southern California Real Estate Report we talk about the rising cost of owning a home.Median home prices reached 1M.This rise in home prices is causing a rise in rent pricesArticle referenced: Home Prices Reach a Mind-Blowing $1M | San Diego Business Journal (sdbj.com) (https://www.sdbj.com/news/2022/may/25/home-prices-reach-mind-blowing-1m/)

Today on the Southern California Real Estate Report we take about the new hotel and convention center in Chula Vista.It just got approved by the City of San Diego and is expected to take 3 years to build.The project is on more than 500 acres of land and industrial property. This project has been in the works for years and has undergone many iterations and financing troubles along the way. This will be the first luxury resort in South County.Article referenced: https://www.sandiegouniontribune.com/communities/south-county/story/2022-05-17/construction-of-chula-vista-bayfronts-resort-to-begin-in-the-coming-weeks