While U.S. apartment construction is at a 50-year high, San Francisco is expected to see a 58% drop in the number of apartments completed this year.
– the region has fallen far behind many of the country’s population centers when it comes to apartment building.
To jumpstart construction and alleviate a deepening housing shortage across the state, California lawmakers earlier this month pushed through . Supporters say the bills, which are expected to be signed into law by Gov. Gavin Newsom, could help bring down housing costs by potentially creating hundreds of thousands of new market-rate and affordable homes throughout the Bay Area.
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