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LA Is Falling Far Short Of Its Goals On Middle-Class Housing Development
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A sign advertising an apartment for rent is displayed in front of an apartment building July 8, 2009 in San Francisco, California.
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The city of Los Angeles is falling far short of its goals when it comes to low-income housing development. Only about 20 percent of the new units needed for low and very-low income residents are actually getting built.
But the city is doing an even worse job on housing for the middle class. Developers have only built 3% of the new housing needed for moderate-income residents, meaning those who earn between about $42,000 and $63,000 per year.
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