Permits for new construction is down 10% from last year in Southern California. Only two counties saw increases in the number of permits pulled. San Bernardino saw increase of 7% and Riverside, 27 %.
Southern California Real Estate and Neighborhoods
Brick and mortar retailers have struggled with the rise of online retailers and malls, being dependent on retail, have taken a hit as well. As a result, malls looking for ways to expand in ways that are less dependent on retailers.
Like most of Southern California, the Inland Empire is in bad need of housing. While many people consider the area a rather affordable, if not attractive, place to live, renters have actually experienced declining incomes and rapidly rising rents over the past 15 years.
While Southern California is still not creating enough housing to make a dent in the housing crisis, the pace of housing creation has increased.