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“We have more than 6,000 units that are fully entitled and ready to be built,” San Jose Mayor Sam Liccardo told this news organization following the study session. “But developers can’t get shovels in the ground because the development costs are scaring away the financing.” .
What’s driving a 1.5% monthly construction cost increase?
BayArea saysWhat’s driving a 1.5% monthly construction cost increase?
Labor shortages & permitting & delays. A lot of electricians and plumbers are retiring and the younger ones who barely have their journeyman card are leaving the state so they could afford a house too.
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