Friday, October 17,
2014
A UCLA study recently
identified Los Angeles as the least affordable rental market in
America. The affordability crisis has its roots in a number of
interlocking trends.
The recent
battle over the Ponte Vista site in San Pedro highlights the role that
local neighborhood opposition plays in blocking higher density housing projects
at price points that would be accessible to a broader range of income levels.
That said, the solution may not be as simple as more supply. Almost all of the new inventory set to hit the LA market in the next 24 months is aimed at an upper-income demographic, offering little relief in sight for those who earn too much to qualify for affordable units but who earn too little to afford a "luxury" apartment.
What can be done to address this market failure? How can we produce enough housing when local opposition so often results in the downsizing of major projects? What does it mean for LA's economic future as the middle class is increasingly squeezed out?
That said, the solution may not be as simple as more supply. Almost all of the new inventory set to hit the LA market in the next 24 months is aimed at an upper-income demographic, offering little relief in sight for those who earn too much to qualify for affordable units but who earn too little to afford a "luxury" apartment.
What can be done to address this market failure? How can we produce enough housing when local opposition so often results in the downsizing of major projects? What does it mean for LA's economic future as the middle class is increasingly squeezed out?
Join
housing experts, developers and policy makers for a candid debate on the
best path forward.
Panelists
Rosalie Ray, Center for the Study of Inequality at UCLA
David Waite, Partner, Cox Castle Nicholson
Marc Huffman, Vice President, Planning & Entitlements, Brookfield Residential
Rosalie Ray, Center for the Study of Inequality at UCLA
David Waite, Partner, Cox Castle Nicholson
Marc Huffman, Vice President, Planning & Entitlements, Brookfield Residential
Moderator
Bob Gardner, Managing Partner, RCLCO
Bob Gardner, Managing Partner, RCLCO
