SAN JOSE, Calif. – Sept. 9: A construction worker on a project in downtown San Jose, Calif., Thursday, Sept. 9, 2021. (Karl Mondon/Bay Area News Group)
The Bay Area, already one of the most difficult and expensive places in the nation to build new homes, is being buffeted by a turbulent economy that’s creating even more challenges for a region reeling from a housing affordability crisis.
The headwinds are plenty: Higher interest rates for construction loans. Rising labor and material costs. Slowing demand from homebuyers squeezed by more expensive mortgages. And fears of a looming recession as cities continue to recover from the