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| affordable housing, mary cummins, real estate appraiser, real estate appraisal, los angeles, california, low income, housing crisis, housing supply |
As expected forcing developers to include low income housing in new projects actually makes the housing crisis worse. They basically just add costs to the developer while only providing a handful of units. These added costs dissuade developers from building more units. Local governments are basically just tacking on a big fee for new projects to help a few select tenants thereby hurting even more potential tenants. Tenants vote for these forced low income units hoping they will get one of the few new units which they probably won't. We just need more units!
"Inclusionary zoning (IZ) policies, which require or incentivize developers to provide some income-restricted housing units in otherwise market-rate projects – may be a double-edged sword, according to a new study by Pioneer Institute. The study found that while IZ policies help address urgent, short-term housing needs for a few families, they also can discourage new supply and increase higher market-rate prices, jeopardizing long-term, broad-based affordability." See first comment for link to article #affordablehousing #housing #marycummins #realestateappraiser
https://www.globest.com/2025/03/10/inclusionary-zoning-policies-may-discourage-new-housing-supply
Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.
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