Comment by scoofy
14 hours ago
The demand is there: https://la.urbanize.city/post/plan-skyline-altering-tower-ab...
The point is that the vast majority of budgetary issues in LA could be solved by just legalizing, and streamlining the production of something as simple as three-story row housing like the kind that's normal in San Francisco (which has a surprisingly good long-term outlook despite their current budget woes).
It's not rocket science here. If you make it easy to build housing, the industry grow to meet demand. If you make it difficult, it will be dominated by a handful of major players who can navigate the process.
I recently reviewed a bid from a not-particularly-fancy contractor for nearly $1M to build ~1200 sq ft in an empty lot in Los Angeles. This isn’t just a planning permit probem.
Even in cheaper areas without earthquake or hurricane construction codes, minimum $/ft is like $250 (for lowest quality components) and realistically more like $400.
Inflation for materials and labor makes any build incredibly expensive.