The environmental review period for the $1-billion Hollywood Center development has kicked off, and an initial report for the project offers up new details on what's to come.

The proposed mixed-use complex, slated for 4.5 acres of surface parking that wraps the iconic Capitol Records Building, would consist of four new buildings containing a total of 1,005 residential units - including 133 apartments to be set aside for extremely-low- and very-low-income seniors. — urbanize.la

Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged.

Back then, people were losing their homes as home values crashed and homeowners went underwater. Today, home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers. — NPR

Perhaps it’s not a surprise in a city where residential prices can reach into the stratosphere, but in Los Angeles, more than 17 percent of all homes are valued at over $1 million.

What may be more shocking is that L.A. doesn’t have the highest share of million-dollar homes. [...]

San Jose and San Francisco were No. 1 and No. 2, respectively. In San Jose, homes valued over $1 million made up 53 percent of the market. San Francisco’s million-dollar-share was at 40 percent. — The Real Deal

Move over Wilshire Grand: A planned 77-story skyscraper wants to be the tallest building in Los Angeles and west of the Mississippi. That’s no accident.

Unlike the Wilshire Grand—which was, purportedly, not intentionally planned to be the tallest tower in the city or beyond—this skyscraper was definitely intended to a record-holder, says Jeff DiMarzio, whose firm DiMarzio Kato Architects is designing the project at Figueroa and Third in Bunker Hill. — Curbed LA

A Crunchbase News analysis of residential-focused real estate startups uncovered a raft of companies with a shared and temporary housing focus that have raised funding in the past year or so.

This isn’t a U.S.-specific phenomenon. Funded shared and short-term housing startups are cropping up across the globe, from China to Europe to Southeast Asia. — TechCrunch

Housing is one of our most essential and cherished commodities. It is rightly one of our biggest markets, but unfortunately one of the most politicised, suffocating under quasi-socialist political interventionism. The loss of prosperity in our whole society is enormous. Not only because of poor housing provision, but because of its stifling impact on all economic activities. That’s why the need for a capitalist revolution is so urgent. — The Guardian

“I think architecture is in a sort of crisis,” he says. “We’ve lost our social purpose. What we are seeing now is construction as a product of investment. We are building a lot, but we are building big investment projects, as if we’re doing architecture without architecture. It’s more about investment than it is about urbanism. We used to be involved in planning and building cities, building societies. But now we are discussing housing as if it were a strange product like washing machines [...] — Financial Times

In some places, the tower block has never faded from view. The history of mass housing in eastern Europe is complex and uncomfortable. Yet what’s striking is how prominently the tower block features in the work of contemporary photographers from that territory. These artists have every reason to turn their backs on such buildings. They’re ugly and overbearing, not to say reminiscent of an authoritarian past. But the mass housing block is a recurring presence in their work. — Calvert Journal

Developer MP Los Angeles has announced plans to construct Hollywood Center, a $1-billion mixed-use complex near the Capitol Records Building in Hollywood.

According to MP Los Angeles, the project - which was filed today with the City of Los Angeles - will feature the largest on-site affordable housing component of any market-rate development in the history of the city.  — urbanize.la

For eight years in a row, an international survey of nearly 300 cities has named Hong Kong the world’s least affordable housing market. [...]

Architects and developers have also put forward some novel proposals, ranging from the quirky to the audacious. While some of the ideas may be repackaged versions of the cramped spaces the city has long known, others could reshape the future of housing in Hong Kong. — The New York Times