Transcript of New apartment construction adds to San Diego County's rental market

We're seeing new construction, new apartments coming online this year throughout the county, like right here at the enclave heritage in Chula Vista, where more housing options are definitely needed. New apartment construction nationwide is roaring along at an unprecedented rate with developers on track to complete more than 518,000 rental units by the end of the year. That's the highest on record 9% increase from last year. According to Rent Cafe, an apartment search website, we really see it as one where supply is really crucial to correcting the root cause problem and that's a housing shortage. Doug wrestlers with Yardie Matrix who partnered with Rent Cafe on the study. He says this boom in construction really started three years ago when interest rates and costs were still fairly low. But as inflation, higher interest rates and other dominate the current landscape. We may see a drop off in a few years. Insurance continues to you know, be a very large expense item. So the problem is how do you accommodate for those kind of expenses and build something that's affordable. Their analysis reveals that San Diego County is set to welcome more than 3200 new rental units by the end of the year. With more than 2000 of those in the city of San Diego. 369 in Oceanside and more than 400 in Chula Vista. We are in a housing crisis uh whether it's renting or buying a new home. Uh There's not enough supply. Chula Vista. Mayor John mccann says they've made efforts to streamline the process at City Hall to make it easier to get building permits instead of having to bring your plans down to the city. We've tried to put everything online uh making sure that it's more efficient for our staff and more efficient for the people building homes. I stopped by the enclave Heritage near Olympic Parkway. They've brought several 100 new apartments online this year. They gave me a tour of a two bedroom which typically ranges from 33 to 3900 a month. Rent. Cafe is objections on completed apartments show a slowdown over the next five years in big cities like Chula Vista and San Diego compared to the last five. But they expect Escondido will buck this trend with a 66% increase in new construction. For more of the details. County wide head to CBS eight.com and click on this story. I'm Brian White for CBS Eight

3 confirmed dead in Oregon plane crash

Category: News & Politics

And northwest news tonight, three people died after a small plane crashed into an oregon neighborhood yesterday. this happened in fairview just east of portland. the plane went down around 10 in the morning striking power lines in a row of town homes which quickly caught on fire. neighbors documented... Read more

Emergency crews respond to Great Wolf Lodge in Webster, Texas

Category: News & Politics

News from webster, some kind of an emergency response at the great wolf lodge resort. that's the indoor water park which was scheduled to have its grand opening today. good afternoon, i'm sherman chow. our tra on bragg is live in the newsroom and tracy, what do we know so far? well, sherman, we don't... Read more

CLEAR Alert issued for missing Missouri City woman who needs medication

Category: News & Politics

Tonight, the search for a missouri city woman whose family says they have not heard from her in more than a week tonight. police telling khou 11 news they found her car in pearland but no sign of karen miles. anele rui spoke with investigators and joins us live with the very latest tonight. ali. that's... Read more

Rice University football team honors student killed in dorm this week

Category: News & Politics

Tonight, the rice university community is remembering andrea rodriguez avila who was shot and killed inside her dorm room. this week, a moment of silence was held as her photo and name were put on the big screen and the marching band dedicated its performance to her. the football team also wore stickers... Read more

Silver Alert remains in effect for missing teen and son of former Colts player

Category: News & Politics

Tonight at six with a silver alert for a missing child. it remains in effect tonight for the 14 year old son of a former indianapolis colts player. bryson weir was last seen more than two weeks ago and police say the teen's parents are not cooperating with this investigation. our rich nye is in logansport... Read more

Top Stories for San Diego County for Thursday, August 29 at 6AM thumbnail

Why Texas and U.S. flags were at half-staff this week

Category: News & Politics

American and texas state flags back to full staff this morning. as texas governor greg abbott ordered they be lowered to half staff yesterday. for peace officers memorial day, they'll be back again at half staff on memorial day itself. may 20. Read more

Grand Prairie, Texas water advisory: Latest updates Wednesday morning

Category: News & Politics

We are following breaking news for you right now. thousands of north texans cannot use their water this morning. that means no drinking water, no showering, no water to cook your breakfast. yeah, this is not just a basic boil water. notice this is more severe than that as overnight, grand prairie isd... Read more

Ted Drewes Jr. dies at 96

Category: News & Politics

Now to breaking news in saint louis, the face of ted drs frozen custard has died. ted drews junior passed away this week at the age of 96. his father, ted drew senior opened the family's first frozen custard stand in florida in 1929. before expanding to saint louis. there are currently two ted drewes... Read more

Michigan State preps for season opener

Category: News & Politics

For the first time in the jonathan smith era. it's game week out in east lansing, michigan state set to battle florida atlantic to kick off their season. and today 13 on your side, yu was at spar and stadium for a look at friday night's matchup, jacob when michigan state football head coach, jonathan... Read more

Bartow County deputy delivers emotional remarks about his friendship with fallen Carroll County depu

Category: News & Politics

I told liza that i wasn't going to, um, write a speech but a couple of nights ago i said, well, if i don't write it down, i, yeah, i'm sorry. ok. mm. my name is clay patterson. um, first before i talk about taylor, i wanted to start. i'm just saying how much i appreciate that over overwhelming amount... Read more

Barrow County Sheriff says alleged shooter 'committed evil act'

Category: News & Politics

Gone into a school, committed an evil act and he took lives and he injured many other people. not only physically but mentally, but i'm proud of barry county. i'm proud of our superintendent. i'm proud of these teachers. i'm proud of these schools and i'm proud of where i live and we'll get past this.... Read more

New apartment construction adds to San Diego County's rental market

Share your thoughts

Related Transcripts

3 confirmed dead in Oregon plane crash

Emergency crews respond to Great Wolf Lodge in Webster, Texas

CLEAR Alert issued for missing Missouri City woman who needs medication

Rice University football team honors student killed in dorm this week

Silver Alert remains in effect for missing teen and son of former Colts player

Top Stories for San Diego County for Thursday, August 29 at 6AM

Why Texas and U.S. flags were at half-staff this week

Grand Prairie, Texas water advisory: Latest updates Wednesday morning

Ted Drewes Jr. dies at 96

Michigan State preps for season opener

Bartow County deputy delivers emotional remarks about his friendship with fallen Carroll County depu

Barrow County Sheriff says alleged shooter 'committed evil act'