Building permits aren't the same thing as new buildings, as San Francisco proved once again in 2018.
Adam Brinklow reports that the number of homes built in San Francisco in 2018 fell drastically from the year before, 41 percent, according to the city's newly published Housing Inventory [pdf].
"The number of new units built plunged 41 percent compared to 2017 (which was itself a decline from the previous year)," explains Brinklow. "In all, 'new housing in 2018 totaled over 2,600 units.' While this is 'about the same as the 10-year average net addition of 2,676,' it’s not good news during a housing crisis."
The city authorized more than double that number, and if all of those 6,097 permitted units had been built, it would have represented a gain in new housing compared to 2017.
The number of new affordable units was also down in 2018, to 645 units, or a 56 percent reduction.
The source article includes many more factoids from the report, including how the city and county of San Francisco compared to other counties in the region.
FULL STORY: San Francisco housing construction down 41 percent in 2018
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
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