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.