The Home Ownership Thread

[venividivicibj]

Also, my current favorite part of living in CA is the state refusing to build water transport, water storage, or desalination,

+1 on this. (and increase rail/transit)

Instead, they're trying to pass another stimulus check (this time to fight inflation). Nothing like fighting inflation with more money. First time CA is flush with cash in a long time and we ignore infrastructure.

 

[beargonefishing]

As a child I hated the little rascals. Garbage ass show, and the audio was torture AF.

 

[PhilKenSebben]

As a child I hated the little rascals. Garbage ass show, and the audio was torture AF.

I bet you really like BofA though....

 

[beargonefishing]

I bet you really like BofA though....

Bank of America is trash.

 

[venividivicibj]

Bank of America is trash.

 

[sugarbutch]

Meanwhile, the actual culprit of CA insane house building cost, CEQA, slumps along towards Bethlehem.

Also, my current favorite part of living in CA is the state refusing to build water transport, water storage, or desalination, while trying to increase urban density and refusing to take water from farmers throwing it on unprofitable almonds.

CEQA is not the main driver of building cost. It's being abused, certainly, and adds to the carrying cost for development, but wages and materials—along with things like parking minimums which force developers to pay for land they otherwise wouldn't and/or devote building volume to less profitable use—are the main non-land drivers of cost.

Is that going to pass? Seems like it could destroy the ability to park anywhere in downtown areas.

The bill would not ban parking within .5 mile of transit, it would leave it up to the developer to decide whether to include it. So, if the developer believes they can make more money by devoting space to car storage rather than more commercial or residential space, they are free to do this.

 

[Fueco]

CEQA is not the main driver of building cost. It's being abused, certainly, and adds to the carrying cost for development, but wages and materials—along with things like parking minimums which force developers to pay for land they otherwise wouldn't and/or devote building volume to less profitable use—are the main non-land drivers of cost.

The bill would not ban parking within .5 mile of transit, it would leave it up to the developer to decide whether to include it. So, if the developer believes they can make more money by devoting space to car storage rather than more commercial or residential space, they are free to do this.

I’ll just blame the kids… I read it as maximums rather than minimums.

 

[ValidusLA]

CEQA is not the main driver of building cost. It's being abused, certainly, and adds to the carrying cost for development, but wages and materials

Lots of things drive it, but CEQA (and ADA for "low cost" residential units) abuse and approvals drags out project planning and execution for years.

This makes labor, materials etc a bigger problem as they increase, and it puts a huge planning burden on developers.

My bro (architect not developer) finished up some "low cost" units recently about 15 miles east of Los Angeles. Just a cool 713k per unit for a 2/1.5.

 

[Gibonius]

Stolen from CE:

A cheat sheet on Professor Donald Shoup's groundbreaking work | Parkade

Parkade co-founder Evan Goldin summarizes UCLA Professor Donald Shoup's treatise that inspired the company, "The High Cost of Free Parking."

parkade.com

tldr: free parking is really really expensive, not least of which because it limits development in the most profitable areas.

 

[double00]

as i've pointed out elsewhere exactions / dedications are a longstanding mechanism for providing for all kinds of general benefits ...

the argument of *developer expense* could as easily be extended to parks , schools , streets , sewers , day care centers , public art , tRaNsIt , libraries , affordable housing etc etc .

 

[sugarbutch]

Lots of things drive it, but CEQA (and ADA for "low cost" residential units) abuse and approvals drags out project planning and execution for years.

This makes labor, materials etc a bigger problem as they increase, and it puts a huge planning burden on developers.

My bro (architect not developer) finished up some "low cost" units recently about 15 miles east of Los Angeles. Just a cool 713k per unit for a 2/1.5.

Planning/inspection delays are absolutely a big problem.

 

[Numbernine]

Downtown Santa Barbara has 90 minute free.

 

[sugarbutch]

Downtown Santa Barbara has 90 minute free.

"free"

 

[Numbernine]

Planning/inspection delays are absolutely a big problem.

IME architects and structural engineers have insane workloads.

 

[Numbernine]

"free"

Yeah even the city lots. I've spent a bit of time there and it is convenient as hell never had a problem finding a spot but I got no idea what the financial impact is. Santa Barbara ain't your typical American city.