A new report from Hilgard Analytics and Zenith Economics has the numbers behind the turndown complicating LA’s multi-pronged housing crunch. According to the available Los Angeles City Council data, the number of new permits this year has fallen 30.7% on pace toward a new five-year low.
Permits are on the rise this year only in the eastern precincts of the San Fernando Valley after a 2022 high in all other City Council districts recorded. This follows news of a flatly less resourceful Planning Department decision on single-family zoning’s future. The city has to build at least 2.5 million homes to meet demands by the end of the decade. (h/t Urbanize LA.)
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