Housing prices are insane. What can we do about it?

There is no mystery to the problems that come with rapidly rising housing costs.  Some are obvious: our businesses cannot find housing for their employees; starter homes do not become available as people cannot afford to move; rents balloon to keep pace with landlord mortgages.

Some are less obvious but equally insidious: populations age as home buyers need time to accumulate larger down payments; cash buyers distort demographics and accelerate price increases; the ratio of rental to owner-occupied property shifts.

All of these, and many others are risks to the character that underpins our town.  We can look up and down the coast and see what the future holds without creativity and flexibility from the City Council.  There are wonderful towns and wonderful neighbors, but very different from El Segundo.  And preserving the character and distinct nature of El Segundo is every bit as important as increasing access. 

We cannot simply resist the market forces that affect our home prices, but we can better shape them.  Part of this is increasing access to existing capacity: embracing live-work spaces and creative housing; supporting Park Vista so that our seniors can stay in our community; encouraging mixed use development in Smoky Hollow.

Come to my next Meet & Greet to learn more about my thoughts on this and more issues our community is facing.

 

 

Photo credit: Zillow.com