New housing not affordable to many

Green Escrow | New construction, housing

A new report by Joint Venture Silicon Valley that analyzes new housing in Santa Clara and San Mateo counties, Fremont, Newark and Union City in Alameda County, and Scotts Valley in Santa Cruz County says that most new construction is for luxury homes.

Developers point out that new construction fees are very high and that the demand – particularly in Silicon Valley – for high-end homes remains very high.

Housing subsidies can used to benefit low-income workers but most moderate-income families make too much to qualify but can’t afford the newer homes.