75-057 - Laserfiche WebLink

Home Browse Search

ABILITY TO. AFFORD HOUSING BOUSING COSTS Housing costs have gone up rapidly both during the 1960's and since then. Home prices have increased more rapidly than incomes. Consequently, the 1974 single family home market is now at levels associated with higher incomes than the purchasing range of the 1970 market. Since 1970, rents have gone up 21% in Santa Ana. Between 1970 and 1974, the average FHA insured new home had slightly decreased in square feet and lot size, but construction cost, sales price, and especially square foot land cost had gone up substantially. Other factors in housing price increases included interim financing costs, wage costs, materials costs, community facilities costs, and delays caused bM governmental regulations. ~ Apartment construction costs increased approximately as rapidly as single unit construction costs. No new single family tract homes have been marketed in Santa Aha for less than $30,000 since 1973. Comparison data from the 1960 and 1970 Census show a strong price and quality disparity in the County's housing distribution. This discrepancy appears to have intensified by 1974, suggesting that where a great amount of low-income housing is found there will not be counterbalancing amounts of high-valued units. The cost of.home ownership rose more than 55% from 1960 to 1970 and more than 85% from 1960 to 1974. The "Consumer Price Index" for the Los Angeles and Orange Counties registered an increase from 79.6 in 1960 to 147.1 in May 1974. (Includes home purchase, interest, insurance, taxes, home maintenance and repairs.) Data from 1960 Census indicate that five cities - Anaheim, Buena Park, Fullerton, Garden Grove and Santa Aha - contained more than half of all owner occupied units in the County valued under $10,000, by 1960 standards. By 1970 these same five cities 000014