AZ Big Media Arizona ranks 7th for most severe housing underproduction
Ready for growth, a network of cross-industry members committed to solving the nation’s housing shortage and affordability crisis through data-driven research and evidence-based policy, today released a groundbreaking report that reveals that California’s housing underproduction reached 977,654 homes, an 82% increase since 2012, ranking the state first in the United States in terms of the severity of its housing deficit. Arizona ranks 7th among states with the most severe housing underproduction.
Arizona went from having adequate production in 2012 to 108,564 (5.8% of total units) underproduced in 2019, according to the report.
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Ready for growth 2022 Housing underproduction in the United States is a first-of-its-kind longitudinal study that tracks nationwide housing underproduction by county and metropolitan area – the most detailed analysis of local housing underproduction ever produced. By measuring the gap between the number of homes available and those needed, Up for Growth identified a housing deficit in 47 states and the District of Columbia, and 169 metropolitan areas – finding that the underproduction of housing in the United States reached 3.8 million units in 2019, up from 1.6 million in 2012.
“Up for Growth’s extensive research on housing needs across the United States supports my persistent work in Congress to build more and increase access to affordable housing,” said Rep. Scott Peters (CA-52 ). “Understanding the barriers to creating more affordable housing helps decision-makers like me come up with solutions that can foster life-changing opportunities for families. I thank Up for Growth for its commitment to data-driven research and policy work on this critical cause.
“No other factor has a greater impact on Latin American homeownership than low housing supply,” said Noerena Limon of the National Association of Hispanic Real Estate Professionals. “We commend Up for Growth for this invaluable research. The cumulative effect of underproduction is one of the greatest issues of our time and we urge policy makers to use this data as a roadmap and marker for addressing the housing shortage in our country.
“We’ve known for a long time that a major driver of the homelessness crisis in our region is the lack of affordable housing,” said Maria Salinas of the Los Angeles Chamber of Commerce. “Removing the barriers that impede economic equity, especially with something as essential as housing, is crucial to our economic recovery and will ensure the dignity and well-being of all LA communities and communities. from around the world. With this data exposing the need for more housing, it confirms the urgency for business leaders and that we need to turn this into action to build new housing, to uplift our region, the State of California and the nation.
“This important research from Up for Growth shows that too few homes are being produced in the United States, resulting in higher costs for families and households,” said Colin Parent, executive director and general counsel of Circulate San. Diego. “This data shows that areas like San Diego need to reform our land use rules to allow for more homes and reduce our high cost of living.”
In 2012, the country’s affordability problem was concentrated on the coasts and in the southwest. Today, 47 states and the District of Columbia have seen underproduction rise over the past seven years. The average US state had a housing deficit of 79,000 homes. As a percentage of the total housing stock, the states with the most severe housing underproduction were, in order of severity: California, Colorado, Utah, Oregon, Washington, Washington DC, Arizona, Minnesota, New Jersey and Massachusetts. Six states are new to the list since 2012: Nevada, Missouri, South Carolina, Rhode Island, Oklahoma and Mississippi.
The report also includes a plan that quantifies the potential economic, fiscal, social and environmental benefits of building millions of new homes. A better foundation is Up for Growth’s innovative new housing policy framework that can help policymakers craft tailored housing solutions to enhance economic dynamism and resilience. Data from Up for Growth reveals that building 3.8 more homes would create increased housing affordability, add $209 billion to U.S. GDP, generate $7 billion in additional local revenue, and reduce C02 emissions at home. equivalent of 7.7 billion fewer kilometers traveled each year during construction.
“With 3.8 million homes missing nationwide to meet housing needs, the United States is in an extreme state of housing underproduction,” said Mike Kingsella, President and CEO of Up for Growth. “Housing affordability is fundamental to building and maintaining healthy local economies, and provides individuals and families with the stability to invest in themselves and their communities. The Housing Underproduction Report offers policymakers solutions to help create more housing while improving equity, community resilience and addressing the drivers of climate change. It is vital that we act now to address America’s most pressing economic, environmental, and social crisis. »