[Image from The New York Times]
If you feel priced out of the housing market, you're not imagining it. California tops the list of the 11 least affordable places to live in the entire country. We beat New York, Honolulu, Miami. And here's the kicker: the top of the list is Salinas. Why are we so much worse off than the rest of the country? The New York Times says we've run out of room for new development - those pesky mountains and ocean get in the way - and we've got some of the most restrictive state regulation on new development. Coupled with population growth and increasing demand for affordable housing, we're looking at a crunch with no easy solution.
The Least Affordable Place to Live? Try Salinas [New York Times]
The LA Daily News continues its assault on downtown development. The latest article asks "What's in it for the Valley?" Of course, the Valley is strangely mute when it comes to development investment in Hollywood and the NoHo arts district.
Downtown: Boon for all? [LA Daily News]
And expect a $37.3 billion package of infrastructure bonds on the ballot this November. If you can get through the sickeningly self-congratulatory tone of the legislators in the SacBee article, the $37 billion breaks out as $19.9 billion for transportation projects, $10.4 billion for K-12 education and colleges, $4.09 billion for flood protection and $2.85 billion for affordable housing. Contrasted with the NYTimes article on affordable housing above, the $2.85 billion begins the look a little paltry.
Lawmakers send record bond deal to voters [SacBee.com]