There is no shortage of housing in Los Angeles. If there’s one, it is artificially created by landlords.
All the talks about killing single family housing to build more is real estate talk about profiting more, and nothing else.
BlackRock, a powerful hedge fund, is also buying buildings in Paris. They’re buying everything, everywhere, not to house people —this is what housing is for, mostly— but to make a giant profit or reap the benefits of streams of income. They can buy entire neighborhoods, cash, immediately. That’s unprecedented.
Affordable housing is a red flag at this point. When Ballmer announces $80M dedicated to affordable housing, it’s complete bullshit: developers get the money, build a 50-apartment building with 2 of them being studios and being affordable. Technically, they offer affordable housing.
Parking permits are pure extortion. Etc.
Greed is the most despicable thing on earth. We’ve got to fight this.
(and f the Olympics)