After falling or remaining flat for three decades, real construction costs have increased sharply since the mid-2000s. The rise was driven by both material and labor costs. Construction costs are lowest in the South, and are highest in the expensive coastal cities and in remote locations like Honolulu and Anchorage. Material costs vary relatively little across cities, but … [Read more...]
Disparity In Departure: Los Angeles Region Supplement
This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Source: https://en.wikipedia.org/wiki/Coachella_Valley [dropcap]T[/dropcap]he Bay Area is undoubtedly at the forefront of a housing affordability crisis that is pricing a growing number of households--particularly lower-income households and households of color--out … [Read more...]
Disparity in Departure: Who Leaves the Bay Area and Where Do They Go?
This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Key Takeaways The San Francisco Bay Area exchanges people of all income levels with all parts of the country, but the origins and destinations of those coming and going differ substantially by income. Low-income residents are over-represented among those moving … [Read more...]
The Scar From Which The Construction Workforce Has Yet To Recover
One way to gauge the severity of the construction labor shortage in different places is to observe where job postings remain online for longer, suggesting greater difficulty filling jobs. Job posting data indicate that the relative severity of the shortage is greater in expensive states such as Massachusetts, New Jersey, and California, although it is also severe in a few … [Read more...]
Characteristics of Domestic Cross-Metropolitan Migrants
Domestic migration across U.S. metropolitan areas is selective: in-migrants to expensive metros tend to have higher incomes and educational attainment than out-migrants, while the opposite is true in the least expensive metros. This pattern contributes to the process of polarization across U.S. metros. It also helps sustain expensive metros’ housing price appreciation above and … [Read more...]
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