RAPHAEL BOSTIC, director of the Bedrosian Center on Governance, Price School.
This op-ed originally appeared in the Los Angeles Times on Feb. 4.
Los Angeles, a city where 63.1% of residents rent their homes, is in the midst of a crisis in rental housing.
A recent study by the U.S. Department of Housing and Urban Development laid out the stark facts. Los Angeles rents have increased, after adjusting for inflation, by nearly 30% over the last 20 years. During the same period, renter incomes have decreased by 6%.
One important part of the problem is an inadequate supply of affordable rental units. Only 37 units are available and affordable for every 100 would-be renters living at the average renter income level.