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Cost Crunch

Construction costs in San Francisco have risen at least 10 percent over the past two years, the largest increase since the height of the last housing boom in 2005-2006. The bump is largely driven by price hikes for materials and labor, especially as large projects like Apple's Cupertino headquarters take up a significant portion of available resources. Affordable developments are feeling the crunch the most, with even a below-market-rate apartment costing more than $400,000 per unit to build. [SF Business Times]