Affordable Housing in LA

While nearly every poll of city dwellers in every major city has consistently shown the lack of affordable housing to be among the top 1 or 2 concerns, the issue seems perpetually under the radar. Having read this posting after I finished, I figure out why - the issue turns boring and confusing real quick for some reason. But alas, Hark! There is good news to report.

On Wednesday, the LA City Council voted unanimously to begin drafting an "Inclusionary Zoning" Ordinance. If passed it would require that every new rental or owner-occ. development greater than 6 units will be required to set-aside 12% of the total units for affordable housing. This will have the effect of 1) increasing the net supply of affordable housing, and 2) locating the housing in growing/stable/safe neighborhoods where there is usually very little afffordability. The effects on the City's diversity, equity, transportation (less traffic) and environment will be felt. Big up to Mr. Reyes, Garcetti and Villagroisa - the left/latino coalition in effect - and ACORN and other City housing advocates!

But the fact that media attention on this is zero and the developers are arming their guns against it makes me nervous. I can see the negative LA Times editorial coming soon. You know the score - this is anti-capitalistic, therefore it may make the sky fall.