Rebuilding Los Angeles Is California's Economic Moment of Truth

[Yo_Mama_Been_Loggin]

ALTADENA, Calif.—California’s economic future hinges on solving the state’s crippling housing shortage. The charred landscape around Los Angeles presents a major test.

January’s wildfires turned more than 16,000 buildings in the Altadena and Pacific Palisades into toxic ash. These are largely single-family-home enclaves, but the state in recent years changed laws to make it easier to build apartments.

Now, California faces a choice. Will it build the housing it badly needs? Or will it accept economic stagnation as the price for leafy neighborhoods of single-family homes?

Some housing advocates believe the fires created new urgency to add density. Among them, pro-development group Abundant Housing LA is urging the city of Los Angeles to change zoning rules to allow for more apartments in single-family areas throughout the city.

https://finance.yahoo.com/news/rebuilding-los-angeles-california-economic-020000908.html