Developing Workforce Housing in L.A.
Livable Places has developed a brief paper to de-mystify the current
dynamics of the housing market in Los Angeles, and address the concerns
of a housing bubble in the region. With enormous unmet demand for new
housing — particularly moderately priced workforce housing — Livable
Places believes that the market for new housing is deeply primed for
on going success.
A common sense analysis of the region's demographic, economic, and housing
market characteristics strongly suggests that the demand for housing
among this population will remain strong well into the future. The growing
population, a diverse economic base, and a chronic shortage of rental
and ownership housing have all been major contributors to the increased
demand for housing, and will continue to drive the market, even in the
face of higher interest rates.
You can read the entire paper in PDF format:
Developing Workforce Housing in Los Angeles:
A deep primed market for on going success
Livable Places is developing communities featuring new "workforce" housing
that is moderately priced and addresses the demand for new homes generated
by households with annual incomes ranging between $35,000 and $75,000.
These new communities, centrally located near transportation and employment
centers, are well-positioned to meet the growing need for ownership housing.
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