REPORT: San Francisco wants more modular housing

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REPORT: San Francisco wants more modular housing

By HBSDealer Staff - 09/10/2018
In an effort to produce more affordable housing for San Francisco, the city is seeking factory locations for modular housing production.

According to a report by the San Francisco Chronicle, the city is expected to spend about $100 million expand its pool of affordable housing.

San Francisco Mayor Landon Breed told the newspaper that the city is in “crisis” due to its lack of housing. At the same time, the city is attempting to combat soaring home and condo costs caused by a shortage.

Home prices in San Francisco, along with the entire Bay market, have been rising rapidly while becoming some of the highest in the nation.

Last month the National Association of Realtors reported that the tech region of San Jose, Calif. remained the hottest market in the second quarter 2018 with median existing single-family prices at $1.405 million. Right behind it is the San Francisco-Oakland-Hayward, Calif. region where the median price is $1.07 million.