The Sacramento bee
From the article:
Sacramento’s new home market has yet to fully revive from its recession-induced coma, but that hasn’t stopped developers around the region from jostling to get new housing projects approved so they can be first in line to tap pent-up buyer demand.
A new analysis shows more than 650,000 homes and apartments in some stage of planning or approval in the the six-county area, far more than twice the number planners say actually will be needed to fill the region’s housing demand over the next 20 years.
Some are old plans, still lying around from the pre-recession days of the early 2000s, and may no longer be viable. But many are new proposals pitched by developers as a modern type of suburban community that features tighter, more urban-style neighborhoods and houses that use water and energy efficiently.
The real estate land race indicates that builders sense an improving economy. But it is also reflects more hope than reality, some planners say. They predict less than half of what is being envisioned will get built.