Editor
Residents are desperate to buy their own homes.
Santa Monica massively penalizes condo construction relative to apartment construction.
This city is must equalize the fees and parking requirements for condos and apartments, otherwise it will crush the hopes and savings of our future residents. The city should encourage condo construction relative to apartment construction at all stages of planning and permitting.
Santa Monica is drowning in new and upcoming, expensive, luxury apartment buildings.
Where are the new condo buildings that residents can buy, and put down roots, and grow multi-generational wealth from?
At the moment only the corporate apartment building owners will get rich, everyone else will struggle to find homes, and will never grow long term wealth to fund their retirement from.
Renters do not stay in expensive, new, luxury apartments for long. They will stay in condos they own for many years.
People are crying out to own, and the city is ignoring them.
The city does not need more, new luxury apartments. We have enough already. We need homes to buy.
Peter Borresen, Santa Monica.
