The Santa Barbara Association of Realtors (SBAOR) has commissioned Rosen Consulting Group (RCG) to study the extent and impacts of the housing shortage on the South Coast.

“Housing Affordability in the South Coast: Impacts of Past Policies and Potential Pathways for the Future” provides an in-depth analysis of the economic, demographic and housing market conditions in the South Santa Barbara County region.

The study highlights the growing affordability crisis and the factors limiting housing development. In addition to the data, this report provides potential policy pathways to help foster greater housing production, increase affordability, and protect the future economic vitality of the region.

Most of the housing studies released over the past decade have concentrated on specific jurisdictions, according to SBAOR. The report examines the housing supply crisis through a regional lens and acknowledges a number of different factors affecting housing affordability.

“As housing providers, we see what the lack of housing does to our community,” aid Bob Walsmith Jr., SBAOR president. “We know housing doesn’t stop at the city border and that is why we contracted Rosen Consulting Group to synthesize the factors contributing to the housing supply crisis and provide a menu of solutions”.

The South Coast faces high barriers to housing, from immutable (such as geographic constraints) to cultural and political factors, including major barriers by the local regulatory regimes, and zoning and approval processes.

Combating these barriers will be difficult, but through a series of modest policy changes, in aggregate, could translate to significant strides in terms of incentivizing new housing development. SBAOR said.

On why SBAOR commissioned the study, Bob Walsmith Jr. said, “There isn’t anything out there showing the whole picture. We all know the housing supply crisis has been around for decades and we will not solve it overnight.

“There is no silver bullet for increasing new housing supply or supporting housing affordability in the South Coast, so we must look at a regional approach. Instead of just talking about the problem, we also are providing solutions.”

For more information, visit https://www.sbaor.org/main/housing-affordability-study/.