($4-5/sq. ft./mo. is about $2,000-2,500/mo. for a small, 500-sq. ft. 1BR apartment; twice that for a modestly sized 3BR)
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When you say "Our affordable housing requirements didn't hard production," what I hear is, "We had already destroyed our middle-income housing before these requirements, and weren't interested in bringing it back anyway"
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The folks quoted on today’s piece in the LA Times piece have a different view on the economics: https://www.latimes.com/business/la-fi-affordable-housing-transit-zoning-20190526-story.html …
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Nevertheless, permitting is more or less flat since 2015, despite the passage of the ADU laws
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Interesting take. What would you propose as alt policies? Seems like “free market” development pushes out the poor, while IZ squeezes out middle class.
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OP is probably the expert but the two options I see are (i) allow Tokyo-scale free market that allows even poor to have shelter provided by market or (ii) reform property tax so that public housing for poor is paid for by all property owners instead of newly minted ones.
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