We continually hear from those who propose more and more development that it is all about a shortage of affordable housing. Close to 3,000 units approved and in the pipeline has not produced affordable housing. It’s a myth, a con. The new housing units will rent very high, whatever the market will bear, which in fact will have the opposite effect, of raising rent ceilings in the adjacent neighborhoods.

Read More: http://smmirror.com/2016/12/the-mansionization-of-santa-monica/