You can't walk a block in downtown LA without stumbling on a 20- to 50-story apartment building going up, and vacant/underused historic buildings are being conv

You can't walk a block in downtown LA without stumbling on a 20- to 50-story apartment building going up, and vacant/underused historic buildings are being converted into housing at a decent clip. New housing is going up in the Hollywood and Koreatown areas close to mass transit. It's true that Los Angeles has an extreme housing shortage (~3% vacancy rate), but the supply side of the housing market is catching up.