The housing crisis is … everywhere

Green Escrow | Real Estate News

While we’re very familiar withe housing crisis in major metropolitan areas – particularly the Bay Area – there is currently a shortfall of 3.8 million homes nationwide. Not surprisingly, California leads the way with a shortage of 978,000 homes.

The cost and demand for housing has far exceeded the supply and the ability to pay throughout rural regions as well as metropolitan areas.

Besides the high cost of building materials, other roadblocks include zoning regulations, environmental concerns, and the delay in getting building permits.

Businesses move on housing crisis

Market News

A recent survey by the San Francisco Business Times reported that 93 percent of businesses responding believe the current housing crisis is a problem for their business. Many businesses are taking a pre-active approach to the situation including the following measures:

  • Assisting with home loads
  • Establishing housing allowances
  • More telecommuting
  • Temporary housing
  • Improved commuting
  • Relocating remotely

Even greater than the individual measures themselves is the realization by business that they can no longer wait for political solutions but must take responsibility themselves.