Pacifica has had a 10 year housing slump too. There is no expectation of a housing boom though.
Palo Alto Daily News/Bonnie Eslinger, 4/27/12. "Redwood City is alive with the sound of housing construction."
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After a decade-long drought, Redwood City is suddenly experiencing a housing construction boom. Almost 1,000 homes are either being built, have been approved for construction or have been proposed, according to city documents. Most of the homes are or will be priced at market rates, and about half are rental units.
The infusion of new
homes will dramatically end the city's 10-year housing slump. According
to U.S. Census data, only 246 housing units were added to Redwood City
between April 2000 and April 2010, an increase of less than 1 percent
for a total of 29,167 units. During that same period, the population
grew by 2 percent, from 75,402 to 76,815 residents." Read Article.
Reference - Redwood City new home communities, just "One Marina" condominiums on that site so far. Peninsula housing market trends, and general market for sale Zillow.
Posted by Kathy Meeh
2 comments:
Irrelevant to Pacifica unless we aspire to be Redwood City. Kathy, will you explain how you decide which articles are placed on Fix Pacifica?
Interesting to me in that 1/2 of the units will be rentals. Seems to be a trend in several Bay Area communities.
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