Stop worrying, NIMBYS — affordable housing shouldn't squash property values
LA TimesA multimillion-dollar home under construction, left, across from a multi-unit building where apartments go for below-market rents. “It’s ‘I want to help poor people, just not in my neighborhood.’” Our neighborhood provides plenty of anecdotal evidence that mixing housing and income levels doesn’t sink property values. “When people who teach school or do policing or work behind the counter in the dry cleaners don’t have to drive an hour and a half, it creates a more successful society.” In Los Angeles County, home prices have risen twice as much as wages in the last decade, and the lack of affordable housing drives homelessness, poverty, population loss and glaring income inequality. “We’ll never get affordable housing in the Palisades,” Wertman said of the upscale Democratic-voting neighborhood. When I described the neighborhood to Painter, he said there’s a term for the older multiunit buildings around single-family homes like mine: naturally occurring affordable housing.
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