Los Angeles earmarks $37M for affordable housing construction

Like many large U.S. cities, Los Angeles is struggling to bulk up its affordable housing stock. The dearth of affordable homes in the U.S. is most acute on the West Coast, with California’s Department of Housing and Community Development reporting that the state’s housing production fell more than 100,000 new homes short of demand annually over the last 10 years. Three cities in the state — Santa Cruz, Santa Barbara and San Jose — were also recently named among the top 10 least-affordable housing markets globally by Demographia.

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