Amid concerns about the impact of housing shortages on recovery and living costs, San Francisco has passed new laws to facilitate construction to address the city's structural housing shortage. However, economic shocks like Covid have dampened the demand for projects, with expectations that catching up could take a year or two. In parallel, Representative Jimmy Panetta has introduced bipartisan legislation aimed at constructing millions of new low-income housing units over the next decade and doubling the number of affordable housing projects in California. Meanwhile, China is making a concerted effort to boost affordable housing construction to counter a real estate slump and stimulate its economy, which heavily relies on the property market, representing 14% of GDP. Shanghai is also undertaking a significant housing project to provide affordable living spaces for low- and middle-income residents, with plans to increase the total rental units to over 600,000 by 2025. Additionally, China's domestically-built large cruise ship, the 'Adora Magic City,' has completed its first trial operation, accommodating up to 5,246 passengers.
A new housing project aims to provide affordable living spaces across Shanghai for low- and middle-income residents. Encompassing 188 distinct projects across various neighborhoods so far, the initiative plans to increase the total rental units to over 600,000 by 2025. Read… https://t.co/SlpVgQfg8z
1/8 Caixin: "Policymakers in China are making renewed pledges to promote the construction of affordable housing, in the latest attempt to reverse more than three years of decline for the country’s property market." https://t.co/oczmBBd4y9
China's first domestically-built large cruise ship, the "Adora Magic City," made its stop in #Shanghai on Monday after completing its first trial operation. The 16-floor ship with a total of 2,125 guest rooms can accommodate up to 5,246 passengers. #cruiseship #MadeinChina https://t.co/HT5RtU18WR
San Francisco finally passed laws to help builders address the city's structural housing shortage. But Covid and other economic shocks have depressed cyclical demand for projects. Catching up could well take a year or two. Click the pic for the story. https://t.co/ou1GXd1rl4
San Francisco finally passed laws to help builders address the city's structural housing shortage. But Covid and other economic shocks have depressed cyclical demand for projects. Readout: catching up could well take a year or two. https://t.co/ou1GXd1rl4
China is renewing a push to promote affordable housing construction amid a real estate slump. If successful, building new low-cost residential units will spur slowing growth in an economy where the property market represents 14% of GDP https://t.co/AvAvfrVQwe
More affordable housing is vital to reducing cost of living. That’s why I introduced bipartisan legislation to construct millions of new low-income housing units over the next decade and double the number of affordable housing projects in California. https://t.co/TeLOdQoJec
I agree with Matt here. Why won't San Francisco approve and build more housing? It's absolutely contributing to what we see on the streets. As much as I support treatment and recovery, I support housing, too. You can't recover if there's nowhere to go. https://t.co/Dii79tIUdb