Bedrosian Center Director, Raphael Bostic and Tony Salazar of McCormack Baron Salazar wrote an op-ed published by the Los Angeles Times on the real affordability problem of the Los Angeles housing market.
Establish a dedicated, consistent source of funding to support affordable housing. Finding new money in a time of tight budgets is never easy, but for years policymakers have agreed on the need for a dedicated pool of money for city-backed loans to support the construction of affordable housing. This would not be a giveaway because loans would be repaid. Rather, it would be an investment in the city’s future, and the next mayor needs to see that such a fund is created and sustained.
This call to action was also picked up in an aggregate news feed from the MacArthur Foundation.
Read the full opinion here.
Commentary: Next mayor must address LA’s housing problems
Apartment supply is inadequate in Los Angeles, and high demand has driven up prices while incomes have not kept pace, write Raphael Bostic of USC’s Bedrosian Center on Governance and Tony Salazar of McCormack Baron Salazar. The city’s next mayor must address the affordable-housing shortage, foreclosure issues and homelessness, they write. Creating a dedicated source of funding for affordable housing and planning carefully around new transit stations are part of the solution, they add. Los Angeles Times (tiered subscription model)
Read MacArthur Foundation coverage here.