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LA Mayor Slashes Affordable Housing Budget by 80%

4/28/2025

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Summary

Story summary

Los Angeles Mayor Karen Bass proposed a budget that cuts affordable housing financing by 80%, reducing units from 770 to 160.
The reduction stems from the expiration of Proposition HHH and litigation against Measure ULA, which hasn't boosted low-rent apartments.
Economic challenges and high interest rates are limiting housing development, with many residents spending over 30% of their income on housing.
The city aims for 185,000 new affordable homes by 2029 but is currently not on track to meet this target.
The budget consolidates the Affordable Housing Commission with the Rent Adjustment Commission to enhance operational efficiency.

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Story summary

Los Angeles Mayor Karen Bass proposed a budget that cuts affordable housing financing by 80%, reducing units from 770 to 160.
The reduction stems from the expiration of Proposition HHH and litigation against Measure ULA, which hasn't boosted low-rent apartments.
Economic challenges and high interest rates are limiting housing development, with many residents spending over 30% of their income on housing.
The city aims for 185,000 new affordable homes by 2029 but is currently not on track to meet this target.
The budget consolidates the Affordable Housing Commission with the Rent Adjustment Commission to enhance operational efficiency.