Commissioner Fonda-Bonardi’s notion that building more homes is the reason housing prices rise is complete nonsense. We’ve tried his slow-growth approach for decades, and Santa Monica now has some of the most expensive real estate in the entire world.
Saying that supply and demand is “suspended” in Santa Monica is like saying carbon emissions don’t cause climate change. It’s willfully ignorant and flies in the face of the ample amount of academic and professional research we have on the topic.
Santa Monica desperately needs more homes. This reality is clear to anyone who has tried to rent or purchase within the last few years. Our new RHNA targets are a good first step and may finally force us to address our housing crisis that local leaders have ignored for far too long.
Matthew Stevens is a Santa Monica resident