FROM Stuart Gabriel
Will a New Mayor Address the Housing Affordability Gap? Los Angeles faces a shortage of affordable housing, and not enough is being constructed to meet increasing demand. That’s created a problem with “workforce housing”—which allows people to live close to their jobs. It all adds up to a real threat to economic recovery. A recent study shows that the average rent for a 2 bedroom apartment in LA County is almost 1800 dollars—300 dollars more than the median household can afford. With the average cost of a house still 335,000, many families are still priced out of the market. Comparisons with other cities show that’s preventing economic recovery and driving some businesses out of town. But that’s not the only problem. When people can’t live close enough to their jobs, they’re driven to desperate solutions. Candidates for Mayor claim they’re up on the problem, but how would they solve it? Could changing Proposition 13 be part of the answer?
Banks Pay for Blight Caused by Foreclosures? Los Angeles City Attorney Carmen Trutanich has filed a second lawsuit against a major bank for consequences of the foreclosure crisis. First it was Deutsche Bank of Germany; now it's US Bank of Minneapolis , a major player here in LA. US Bank is accused of letting 150 foreclosed homes to fall into disrepair, creating blight in their neighborhoods, including drug dealing and prostitution.
The Foreclosure Crisis Continues in Southern California Some 50,000 Southern Californians have been at the LA Convention Center over the past six days, looking for help from the Neighborhood Assistance Corporation of America , a Boston nonprofit that offers free help in mortgage modification. Our Christian Bordal went there yesterday, and he's with me tonight in the studio.
Federal Plan to Freeze Mortgage Rates—Will It Help California’s Foreclosure Crisis? Last week, Governor Schwarzenegger made a deal with four lenders to temporarily freeze monthly payments after interest rates rise on some sub-prime mortgates. Tomorrow, President Bush is expected to announce a similar program.
"Tough on crime" rhetoric sees a revival at Sessions' DOJ The pendulum swings between treatment-focused approaches to drug abuse and tough law enforcement. Now, after years of Obama-era "reforms," President Trump’s Attorney General, Jeff Sessions wants local police freed from federal restrictions to fight another "war on drugs."
In Janesville, WI, Middle America meets the new American dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn't prevent the closing of the General Motors factory after 100 years. We hear what's happened to what once was a model of American middle-class unity.