6 Solutions to San Francisco’s Housing Problems

6 Solutions to San Francisco’s Housing Problems

San Francisco Bay Area’s housing crisis is so out of control, even a Google engineer would rather live in a truck than pay the sky high rents. This is true, his name is Brandon S and he was written about in the Huffington Post, CNBC, The Washington Post, among others.

The average price of a home is about $820,000 and rents are about $2,500 a month and upwards depending on the size and location. A bunk bed can rent out for $400 a month. Some have rented out garages and converted them into bedrooms, and so on.

Here are 6 solutions to the housing problem in the Bay Area, as proposed by the Bay Area Council Economic Institute:

1. San Francisco Bay Area communities should build affordable homes near public transit. Doing so would allow for more density and give residents more disposable income since they wouldn’t need to commute by car as much. Commuting by car can be expensive. According to a 2017 study from AAA, owning and operating a new vehicle costs drivers an average of $8,469 annually, or $706 each month — which is almost like paying a second rent.

2. Extend the BART subway line to Livermore, a city that’s cheaper than some other parts of the Bay Area.

3. Build a new affordable housing development near Fremont’s second BART station. Fremont is a hub for high-tech manufacturing, and building more housing in the area could allow residents to live closer to work. The city’s plan includes up to 4,000 apartment units, and multiple developers have already had their master plans for developments approved.

4. Pass more legislation that encourages housing developments near public transportation. The Bay Area Council Economic Institute reasons that if there were more affordable housing developments near subway and bus stops, it would grow the region’s economy.

5. Enforce building targets that require California counties to create enough housing to meet resident needs. In 2017, two bills passed that will make it harder for developers to reduce the density on their housing projects unless the surrounding county has met its targets.

6. Complete Oakland’s four existing housing megaprojects. These include the Brooklyn Basin Development of 3,100 housing units, and a market-rate townhome project at the former Oak Knoll Naval Hospital Site.

The former Oak Knoll Naval Hospital:

Plans for a new development on the Oak Knoll Naval Hospital site:

Source: Business Insider

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