SAN DIEGO, Oct. 27, 2016 /PRNewswire/ -- Russell Valone, president of MarketPointe Realty Advisors and an expert on area housing, today released a report that concludes the San Diego County General Plan approved in 2012 has failed to provide for the construction of smaller homes on smaller lots that would be affordable to middle-class San Diegans.
Valone said, "While regulatory restrictions on the entitlement process have been a major factor in limiting housing production in many of the County's municipalities, restrictions within unincorporated San Diego County have been even more damaging. Since 2011, less than eight percent of the new homes sold countywide were built in the unincorporated County. Nearly 60-percent of those were developed on high-priced estate-sized lots."
Valone continued, "San Diego County is experiencing a dramatic housing shortfall, which is driving housing prices up and forcing tens of thousands of households to commute into Riverside County to find a home they can afford."
Valone said, "The Lilac Hills Ranch project, on the November ballot as Measure B, will have an average lot size of 4,737 sf and an estimated average home size of 2,160 sf., which is 43% smaller than the average size of homes built on estate lots in the County since the General Plan was approved in 2012." Valone continued, "Just this difference in the average size of homes on Estates in the County vs. LHR homes represents over $421,000 increase in price for estate homes."
Measure B San Diego will be on the November 8th ballot to approve a General Plan amendment in northern San Diego County to provide more housing affordable to middle income families. Supporters argue that it would help alleviate the region's severe housing crisis. For more information on Yes on B, click https://yesforbetter.org/
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/measure-b-san-diego-housing-expert-says-county-general-plan-bears-some-responsibility-for-housing-shortage-300353229.html
SOURCE Measure B San Diego