San Jose Housing Quandary: A recent San José Spotlight piece sheds light on how a state housing law, designed to promote housing, might hinder it. The proposed San Jose Flea Market Urban Village, with just 25% of the original homes, raises concerns. Erik Schoennauer, representing owners, cites financial challenges, emphasizing the broader issue: Urban Villages are less “financially feasible.”
Mayor Matt Mahan, a proponent of accountability and common sense, championed higher density housing near transit, believing it would “pay for itself.” However, with Urban Villages facing financial hurdles, questions arise about the city’s approach.
The piece questions the wisdom of focusing housing growth on expensive land and construction. It challenges Mayor Mahan’s stance on Urban Villages as the primary solution and calls for accountability. The 2022 community survey highlights concerns about the city’s appeal for retirement and child-raising.
The article suggests a shift toward mixed-use zoning, promoting community-centric businesses in neighborhoods. This common-sense solution aims to boost the tax base, reduce reliance on temporary taxes, and create economic sustainability.
As the city navigates its challenges, the call for change resonates, urging elected officials to consider new models for a sustainable and vibrant San Jose.
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Our Reader’s Queries
Are house prices going down in San Jose?
Zillow predicts a decline in home prices in the San Jose and San Francisco markets in the coming year. San Jose is expected to experience the biggest drop in home prices among the top 100 metro areas in the US, with a projected decrease of 6.1%.
How much do you have to make to afford a house in San Jose?
San Jose is almost as pricey as San Francisco, with a median-priced home costing $402,287. However, the median income in San Jose is $125,075.
Why is San Jose housing so expensive?
According to a recent report, building costs in the San Jose Metro area are significantly higher than in San Francisco and Alameda County. The report attributes this surge to a shortage in the labor market and differences in wage structures. These factors have led to a 26% increase in building costs in the San Jose Metro area.
What is the average price of a single family home in San Jose?
The value of a typical home in San Jose currently stands at $1,316,960, reflecting a 5.3% increase from the previous year. On average, homes in this area go under contract within 13 days of being listed.