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Article: Affordable housing may be builders' savior. (housing in Los Angeles, California)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 26, 1991
- Author:
CopyrightCOPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Affordable housing may be builders' savior
Southland developers are starving in what has become the worst real estate famine in recent history. But whispers of hope are now growing louder and more pervasive that a restorative elixir might exist that can possibly sustain some local developers through the lean months to come.
That elixir is affordable housing. And it could be the only niche to see any significant action in the near-term future.
"This (affordable housing) is the one area of real estate that needs to be expanded right now," said Ted Kahan, a real estate attorney with the law firm of Greenberg, Gluster, Field, Klaman & Machtinger. ...