New jobs have outpaced new homes by a wide margin
New housing is not keeping up with the pace of job creation in San Jose. From 2010 to 2015, Santa Clara County added 171,000 jobs but only 29,000 housing units, creating an imbalance that has led to exorbitant housing costs. With Google and Adobe opening new facilities in the area, that discrepancy is likely to get worse without regulation changes.
CityLab reports that land rules are preventing San Jose from adding new housing. A new report from the Bay Area urban planning think tank SPUR lists a few suggestions on how to relieve the housing crunch, including updating the zoning code and hiring more long-term planners.
Banking on the advent of driverless cars, the city could reduce parking regulations and convert parking garages into other developments that could include affordable housing.