3 ms·

What changed? NYC has been pretty unaffordable for a very long time - what changed in LA?

• 999900000999 5y ago
  The rent sky rocketed. If you want to see what happens when you ignore basic economics and focus on feel good solutions, come on down. Instead of making it easier to build housing，the local government effectively floods the market with housing vouchers. If you give out a 1200$ housing vouchers, a unit which would only be 800$ on the free market is all of a sudden 1200$ since that's the voucher's max. I really do miss the LA of my youth, but it's gone now.