Development of market-rate housing in San Francisco will slow to a trickle in 2019, because a combination of higher construction costs, escalating fees, a softening market and increased interest rates has persuaded many builders to wait on the sidelines, developers and industry analysts say.
Development “is not going to happen,” said Sean Keighran, president of the Residential Builders Association, which represents developers and contractors. “There are four strikes, and you only get three. It’s hard to foresee a rosy path forward.”
