San Diego to Lead in Rise of Housing Starts : ’88 Survey Forecasts that Los Angeles and San Francisco Also Will Be in ‘Top 10’ Cities
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San Diego will likely see the biggest increase in housing starts this year, but Los Angeles and San Francisco won’t be far behind, according to a survey of 659 builders, real estate brokers and syndicators.
The survey, released by the Real Estate Securities and Syndication Institute and the accounting firm Touche Ross, said other “Top 10” cities for home building this year are Atlanta, Phoenix, Boston, Chicago, New York, Washington and the Miami/Orlando area.
Respondents said the availability and cost of financing was their biggest worry in the year ahead, followed by zoning problems. Three-quarters of the respondents said they are paying 10% or more for their financing.
The typical buyer of the average new home is married, between the ages of 30 and 39, and earns less than $50,000 a year, participants in the survey said.
The syndicators who took part in the survey said garden apartments are the most desirable projects for syndication, with shopping centers a close second and office buildings third.
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