Why so few places to live in Modesto? A clue. It has to do with raging economy

in Economy/Local Roundup

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.

Continue Reading on The Modesto Bee


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