Cost of new construction in LA County could go up $15 a Square Foot

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Cost of new construction in LA County could go up $15 a Square Foot

Housing costs in Los Angels California continue to outpace demand, reducing affordable housing. In an effort to address this housing dilemma, a Los Angeles City Council committee backed a plan for a new fee on the construction of single-family homes, offices, apartments and other developments, with the funds going to pay for affordable housing.

Although this fee is being touted as a solution to boost funding for low-income housing, it is my opinion that it will ultimately lead to higher housing costs and rents that will further leave behind the groups the plan was intended to help, thereby contributing to the very problem the fee was intended to solve. Weigh-in and let us know your thoughts.

By |2017-11-12T11:17:13+00:00August 25th, 2017|Categories: General|0 Comments

About the Author:

G. David Lapin is the president and Broker of Record of HanoverMC, a private money lending and trust deed investment firm located in Orange County, California and is an author and speaker on the topic of private money lending and trust deed investing. Lapin was most recently featured in Robert Irwin’s book “Armchair Real Estate Investor” and hosted his own radio show “The Hard Money Hour”. Lapin's professional career in real estate encompasses 30 years of entrepreneurial experience in both the commercial and residential sectors, bridging property management, development, construction, investment sales and finance including residential mortgage banking and brokerage - originating, processing and closing 5,000 + purchase & refinance transactions, and the underwriting and funding of private money transactions.

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