But 500 million is a lot of money. So we need to be honest about what we're getting, why it costs so much, and how to lower it. Overall, we're seeing about 2200 residential units permitted each year. About one third of these, around 700, are state funded. Census data and vacancy rates show that to meet current demand and create a healthy market that puts downward pressure on prices, we need 6,800 units. (33:27–33:33)
CLAIM
Asserts that approximately 2,200 residential units are permitted annually.
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