Commentary
The California housing lunacy just gets worse and worse. Not long ago I commented on a Los Angeles audit revealing that the city was building housing for homeless at a cost of up to $837,000 per single unit. Now, a Los Angeles Times study of state records reveals that the state is subsidizing low-income apartments that cost in excess of $1 million each to build!
Any California developer will tell you that the biggest impediment to new housing in the state are the onerous building codes and permit requirements. California’s are among the most onerous, requiring environmental impact reviews, soil reports, coastal commission reviews, energy efficiency requirements, design reviews, and workforce and procurement rules….