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Except current landlords have local governments in a stranglehold and you can't build any new housing at all.
by polygamous_bat 4y ago
Except current landlords have local governments in a stranglehold and you can't build any new housing at all.
- sologoub 4y agoThat’s not the entire picture -Builder’s Remedy apperently is working: “ For example, after Santa Monica failed to pass a compliant housing development plan, developers employed the builder's remedy to move forward with the construction of approximately 4,000 new housing units spread across 12 new development sites.” https://en.m.wikipedia.org/wiki/Builder%27s_remedy https://en.m.wikipedia.org/wiki/Builder%27s_remedy That’s nearly an 8.8% increase from the current 45,487 units total (including all houses) https://scag.ca.gov/sites/main/files/file-attachments/santa-monica-he-0421.pdf?1620767629 https://scag.ca.gov/sites/main/files/file-attachments/santa-...
- catiopatio 4y agoIt’s “working” insofar as it represents a giveaway to value-extracting development interests, nearly all of which seek to grow the permanent renter class. It remains to be seen whether that will reduce housing costs.
- sologoub 4y agoSanta Monica is one of the most desirable areas in greater Los Angeles. I doubt the demand for it is that shallow. However, this helps more people (who are likely well off) to afford it and reduce pressures elsewhere. If your goal is a paid off place to live, SM isn’t the best choice unless you are either high income already or are set to receive a windfall somehow.