Out of curiosity, I looked up the value of a two-story tract house I bought in a middle-class San Jose neighborhood back in 1983, for about $130,000. Ordinary house, crazy priceSo why an eight-fold price increase for a pretty ordinary three-bedroom, two-bath house? But bureaucracy, land scarcity and construction costs, limited funding for affordable housing and well-intended environmental restrictions all stand in the way of new projects. Mercy’s Ed Holder said demand for such projects is so great, a crush of people will clamor for a spot in the next phase of an affordable housing development in Wilmington. Senate Bill 35 would prod cities that aren’t meeting state housing production goals to ease regulations and speed up the process.

Source: Los Angeles Times September 09, 2017 15:00 UTC