by Ed Castellanos www.superliked.com/profile/ed-castellanos
I’m torn between the understanding that here in Los Angeles County, there is a real need for new housing and empathizing with the existing home owner wanting to keep his neighborhood as is.
Today, I’m going to look at the pros and cons of new housing for sale in our community.
According to C.A.R. (California Assocation of Realtors) Los Angeles County has been well below the national average for new housing developments in the past 10 years. The local real estate market is strong and demand is high. Prices in Los Angeles County have just about reached the peak levels of 2008. Homes are worth more today than almost any time before. Many homes are selling with multiple offer and some are selling over asking price. It is common for a home buyer to be in competition bidding on a home and many times they will need to put a few offers before they win the bid. At this point in time we have a lack of inventory and new housing is desperately needed and welcomed for a home buyer looking for that American dream. New housing will give well qualified home buyers the opportunity to become home owners. Home owners have a stake in the community, they shop in the community, they pay taxes, their kids (if they have kids) go to school in the community most times, and they typically eat in their community. A homeowner has a vested interest in the community in a way that renters might not. Building homes create jobs, and new homeowners will boost the local economy, new potential patronage to local shops and restaurants.
Still, I can’t talk about all the pros of new housing without thinking about the existing home owner that would rather keep their neighborhood as it is. The homeowner that comes home after a busy day at work to a quite, dark Foothills street that is so common in the Sunland-Tujunga area. The problem with new housing is that it also means more traffic. The average household of three usually will have an average of two cars. With the increase in neighbor size, there will be more traffic. More traffic means more noise, more smog and more wait times. I’m sure there are many more cons and I would love to hear your feedback on what you think.
Living in L.A. County means you’re going to live in a populated area, and there is a desperate need for housing. For a community to prosper and be comfortable, I would argue that it is better having new homes for sale to people who have a stake in their property, rather than going crazy and building new apartments for lease. Home ownership always has a positive impact on the community. So if you’re going to have new developments anyway, why not support new homes for sale?
I would love to hear from you. If you’re a home owner, how do you feel about new housing developments in your community?
And if you are developing new housing projects, how do you highlight the positives to the community?