Mapping San José’s Housing Future

If you’re a regular reader of our blog, you’ve probably heard of “housing elements” – plans that every California city need to update every eight years to set goals for housing development based on projected growth.

If that sounds super geeky, well, that’s because it is. But it doesn’t make it any less important, especially if you’re considering the affordability of homeownership in Silicon Valley.

For example, here’s a Mercury News article with a map of where the City of San José would like to build 77,500 new homes in the next ten years.

Doubling down on affordable housing

The Los Altos City Council recently approved a pair of housing developments that could more than double its number of below market rate (BMR) units. With a long waiting list, this move can’t come soon enough. But what does it mean for the broader housing market? The Town Crier has the scoop.

Chic vs. Geek: Housing Affordability

With younger generations looking to buy or rent a home and older folks staying in their homes and living longer, there’s a nationwide shortage of affordable housing. So how do we solve it?

CHIC (PEARL)

Many first-time homebuyers have unrealistic expectations of what “affordable” means for them, especially in Silicon Valley. Unless you have an unlimited budget, it might make sense to start with a smaller home and build equity toward a bigger purchase later. And take advantage of all the government assistance and financing options available.

GEEK (KEVIN)

I’m a big believer in the power of technology. We have the tools to mass-produce prefabricated homes in factories faster and cheaper than building on site. But red tape gets in the way in the form of land use, zoning, and delays with inspections and paperwork. We won’t solve this problem until government works at the speed of business.

Geek's Number Talk: The Affordability Gap

In 2020, housing affordability for African American and Latinx households in California was half that of white households, illustrating a persistently wide homeownership gap and ongoing wealth disparities. See the charts below, and watch this video to learn more about how to close the gap.