As a whole, Bostic noted that the housing market is in good shape. “I think what we’ve seen is a pretty nice recovery… I think the bigger question is… that we have a lot of uncertainty that’s still in the marketplace that is preventing lenders in particular from being as present. So there are difficulties in terms of getting access to credit, but overall we’re a far distance from the pain we had during the crisis.”
As the conversation turned to the housing market in Southern California, Bostic said that he is confident that the region is continuing to grow, putting pressure on regional leaders to find solutions to meet growing demand for housing and transportation.
“We need to have a diversity of solutions that allow people to live affordably, and then get in easy – and cost effective[ly]- to where they work. One of the challenges I think, that is in this, is that we don’t really make our decisions at a regional level, so [housing and transit] is a problem that all the communities in the southland have to understand and really be willing to take on some of the burden themselves. When we think about things at a project by project level… we can loose the bigger pictures and wind up making short-run decisions that really hurt [the region] in the long run.”
Listen to the full discussion on KPCC.