"Wealthy homeowners benefit from a shortage of housing in their neighborhood."
This point needs to be refined. Are you suggesting wealthy homeowners limit development to maintain high property values? If so, I would argue this isn’t as important to them as maintaining the character of their single family dwelling neighborhoods.
If you think high value neighborhoods like Brentwood, Bel Air, Hancock Park, Larchmont Village, Beverly Hills, West Hollywood, Los Feliz, Silverlake, etc. are going to be suddenly filled with high density residential or multi use building, then I think you’re going to be disappointed.
More than likely, high density residential buildings will appear in under developed and blighted areas of LA like North Hollywood, DTLA, etc. where developers will find less resistance, tax benefits, and lower development costs.
It was a toss-up between Glendale and Pasadena, but I went with Glendale, the house and neighborhood looked just a bit nicer. Beware, Brentwood is a land lease and NO in unit laundry
Jimmy Stewart’s Brentwood bachelor pad listed for $7.75M
This style isn’t really in favor anymore, especially in a one story home in such a pricey neighborhood. It’s hard to even save some of the one-story Spanish styles, even with high ceilings.
Today’s Brentwood buyer wants flash and trash – say goodbye to this one, folks.
Landmarked Brentwood midcentury modern by A. Quincy Jones seeks $3M
Notwithstanding the massive square footage difference of 5000sf for Pasadena vs. 2200 sf for Brentwood, if I had $5 million to spend, I’d spend $3 million on this home and bank the remaining $2 million.
Landmarked Brentwood midcentury modern by A. Quincy Jones seeks $3M
Understanding that a comparison to the CurbedLA-featured $5 million MCM in Pasadena is somewhat apples-to-oranges, this house in Brentwood for $3 million seems like a no-brainer.
I’m no fan of rent control either, but the 38% drop quoted in that article is not a meaningful statistic in the 3 months since the bill passed. This is not the stock market where millions of shares trade on a daily basis. Commercial buildings take months> to transact. Secondly, transaction volume alone is not an accurate measure of market health.
We can review in 2 years for a more definitive conclusion.
I’m a big believer that added density will reduce the need and the duration of the average car trip on a macro basis. Waiting for traffic to "get better" is a complete fallacy. The density will follow the ease of commuting lifestyle. There is no "right" to be able to drive 20 miles across a large city at an average speed 60 MPH.
There is so much low hanging fruit that Los Angeles has failed to implement or execute competently on the public/non-single occupant car transportation front. Correcting that alone could "allow" more density. The "I still need to be able to drive everywhere all the time" mentality is holding the city back….big time.