Commentary by Mayor Ron Nirenberg: Housing availability and affordability is essential for socioeconomic mobility and growth in San Antonio.
One of VIA’s new electric buses travels along San Pedro Avenue, where a new Advanced Rapid Transit route is planned.San Antonio is at an important inflection point in its development as an inclusive and prosperous city.
Growth along the Interstate 35 corridor has increased exponentially, and new housing developments are clearly visible across every corner of the city and county. But as our population grows, the housing supply has not kept pace with growth or demand. That supply-demand imbalance has serious implications for maintaining San Antonio’s affordability long term.
San Antonio’s supply-demand imbalance turns up in many ways. Active home listings over the past three years have remained well below 2019 levels. This is partly due to interest rates consistently hovering above 7% during that time, squeezing loans from would-be buyers and discouraging would-be sellers, according to data presented by housing industry analyst Zonda.
The importance of safe, affordable housing to a family and our overall economy doesn’t just pertain to homeowners. It also goes for renters, who comprise roughly half of all residents in Bexar County. Renters, too, are feeling squeezed as rental prices have remained elevated compared to pre-pandemic rental costs.
A nimble regulatory change to ADUs has created the potential to develop additional housing units on existing single-family lots, thereby unlocking additional avenues for homeowners to create new housing on their already developed property.
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