Housing Affordability Increases in LA/Ventura Region

Housing affordability increased in the third quarter of 2010 in both the Los Angeles and Ventura County regions. The Housing Opportunity Index released this week showed increased affordability across California, including significant increases in the LAV area. A family in Los Angeles County could have afforded 40.3 percent of the new and existing homes that were sold in the third quarter, up from 33.3 percent the previous quarter. Meanwhile, a family in Ventura County could have afforded 55.9 percent of the homes sold in the third quarter, up from 46.9 percent in second quarter 2010. While the Los Angeles region is still one of the least affordable in the country, the Housing Opportunity Index has not been consistently this high since 2001-2. A complete history of the Housing Opportunity Index is available here.

Nationwide, 72.1 percent of new and existing homes sold in the third quarter were affordable to families earning the national median income, down slightly from 72.3 percent in the second quarter. Kokomo, Ind., was the nation’s most-affordable housing market with an affordability ranking of 96.1 percent, followed by Mansfield, Ohio, with a ranking of 95.7 percent.

Low Impact Development Technology Forum

A technology forum examining a variety of Low Impact Development best management practices is scheduled for December 14, 2010. This forum emphasizes how to evaluate and use LID BMPS in urban areas for managing a project's runoff and how to adapt to using the new BMP feasibility process that recently adopted MS4 permits include. The instructors will present design principles that must be
applied to most new and redevelopment projects.

Post-construction stormwater management is increasingly important for builders and developers as they work to comply with new Municipal Stormwater requirements. This forum is a must attend for those in the engineering, land planning, and public works fields. 

The forum is hosted by Los Angeles County and will be held at the Department of Public Works building at 900 S. Fremont in Alhambra from 8:00 am until 3:00 pm.

The forum features a stellar line-up of speakers and is sponsored by experts in the Low Impact Development field including Filterra Systems, Contech Construction Products, and Orco Block.

Contact Maile Imig at the BIA to register.