Job growth is a leading indicator of economic recovery.
But are you living the dream if a large percentage of your paycheck goes to housing costs, or a shabby apartment in Modesto or Turlock is all you can afford>
In cities across the country, housing construction has not kept up with a long streak of job growth that followed the terrible recession of 2008 and 2009, according to a study by Apartment List, an online apartment-finding service.
In the Modesto area, the economy added 18,324 jobs between 2008 and 2018 or 3.4 jobs per 1,000 residents. During the same time period, less than 1 permit for housing construction was issued per 1,000 residents. The study concluded that 4.2 jobs were created here for every building permit issued for housing.
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