Rental Armageddon hits the ballot boxes in March for Angelinos. One measure that hits particularly close to home is Measure S, dubbed the slow growth measure and sought out to curb large scale development. Now as you are aware and we’ve noted before, Los Angeles County is now a renting majority county. Most of the people that live in the area and haven’t purchased are priced out in terms of owning a home. So it should come as no shock to Taco Tuesday baby boomers who bought ‘back in the day’ that large scale development is going to be the future even if it interferes with them getting lit mid-afternoon. Measure S lost because most people rent and don’t give a crap about your crap shack in Culver City or any other West L. A. hood. In other words, L. A is going to get even more crowded and sardine packed.
Measure S and L. A.’s Future Development
For many of us Los Angeles is our home and the engine of Southern California. But the future belongs to the young. And the young are broke and can’t afford sprawled out crap shacks that really are not utilizing space efficiently. I know you want to have a yard for your hyena puppy and the ability to paint your walls magenta all for the nice sum of $700,000 or $1 million but the reality is, most in the county can’t pay that. They are fine with an apartment or a condo.
This post was published at Doctor Housing Bubble on March 8th, 2017.
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