SAN DIEGO (NEWS 8) - San Diego is in a housing crisis, according to a new report from the San Diego Regional Chamber of Commerce and Greater San Diego Association of Realtors.
Mayor Kevin Faulconer joined business and real estate leaders for a panel discussion Thursday in Kearny Mesa about the report that shows issues with housing and affordability getting worse by 2020.
The study shows supply is not meeting demand, especially for low-income families and seniors on fixed incomes.
The "Housing Scorecard" compares the progress of 18 cities in San Diego and it gives an accurate depiction of how the lack of affordable housing is a major problem for the region's growth and development.
Here are a few key findings from the study:
Below is the report released by the San Diego Regional Chamber of Commerce in July of 2016 on the lack of affordable and convenient housing.
In May, the California Association of Realtors reported that just 28 percent of San Diego households could afford to purchase a median-priced home in the area.
"The housing affordability crisis is the top issue facing our city that is literally forcing the next generation of San Diegans to move outside the region,'' said Councilman Scott Sherman, who chairs a committee that deals with land-use issues.
Last month, San Diego officials unveiled a dozen proposals designed to ease the city's lack of affordable housing.
News 8 will continue to follow any developments from the meeting.