Page 14 January 24, 2019 EL SEGUNDO HERALD
Housing Plan from page 3
People who buy homes accumulate wealth
45 times faster than renters, according to
the Federal Reserve. When individuals or
couples own rather than pay rent, their net
wealth begins to soar.
The boost to the economy doesn’t stop
with a home sale. Homeowners after seven
years will sell a starter home and trade up.
Retirees and empty nesters may want to
downsize. Either way, adults historically have
purchased multiple homes over a lifetime. In
the process, they boost the local economy
and create jobs in real estate, finance and
construction, according to experts.
It is estimated one new job is supported
from every two home sales, according to the
National Association of Realtors. Homeowners
are healthier and more engaged in their
communities and volunteer more, other research
has shown. It’s what economists call
the “multiplier effect.”
Gov. Newsom signed his housing executive
order, surrounded by families who his
office said were considering leaving the
state because they can’t afford to live here
anyway. They singled out rents in the Bay
area for entertaining the idea of leaving the
state altogether.
“Californians spend more of their income
on housing costs than residents of almost
any other place in America, and those huge
costs are driving middle-class workers and
their families further away from their jobs,
and often out of the state,” the governor’s
office said in a statement.
The governor asked Sacramento lawmakers
to approve legislation for him to sign
that protects California renters from what
he called “out of control” rent hikes. Voters
in November rejected a rent control ballot
initiative that would have empowered local
city councils and the board of supervisors
to limit rent increases on privately owned
properties. Prop. 10 was defeated statewide
and across Los Angeles County. The measure
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gave local governments the power to enact
rent control, but the language of Prop. 10 left
it to the discretion of local elected leaders.
With the defeat of Prop. 10, the new governor
said he will work with legislators and
cities and counties to make housing more
affordability. His plan includes incentives for
local governments, including $500 million to
raise new housing and another $250 million
to provide technical assistance to cities and
localities to “responsibly ramp up” zoning
and permitting processes. The $1.75 billion
package includes another $500 million to
help retain middle-class families from joining
the exodus to Nevada, Arizona and Texas.
He wants state and local governments to
devise solutions for middle class residents
that “too often cannot find affordable housing
near their jobs.”
Housing on state-owned lands could be
figure into the mix soon. After an audit by the
state, the Department of Housing and Community
Development along with the Housing
Finance Agency would be tasked with swapping
parcels with local governments to clear
the way for affordable housing projects. This
proposal opens the door for affordable housing
developers and organizations to increase their
inventory using low-cost, long-term blocks of
parcels in areas short on housing.
The issue of rent increases, however, is
a problem still in search of a solution after
voters rejected the ballot proposition granting
rent control powers to their city councils and
boards of supervisors. The measure faced
intense opposition from landlords and Wall
Street investors, according to news reports.
They outspent supporters of Prop. 10 by an
eight-to-one margin to defeat it, according
to state campaign finance records.
Newsom said he is committed to greater
protections for renters, but didn’t offer any
specifics. He tasked ranking members of the
Assembly and California Senate to work
with his office to prevent run-ups in rent. •
Thursday, Jan. 10
One female adult was arrested at 1035
hours from the 300 block of Main Street for
identity theft.
One female was detained at 1348 hours
from the 1800 block of East Sycamore Avenue
and transported to Harbor UCLA Hospital for
a 72-hour psychological evaluation.
An identity theft report was taken at 1425
hours from the 500 block of Main Street.
A burglary (vehicle) report was taken at 1707
hours from the 200 block of North Pacific Coast
Highway. Unknown suspect(s) broke into the
victim’s vehicle and stole a laptop computer.
An identity theft report was taken at 1732
hours from the 500 block of Eucalyptus Drive.
A petty theft report was taken at 1909 hours
from the 1700 block of East Grand Avenue.
Unknown suspect(s) stole $40 in U.S currency.
One male adult was arrested at 1956 hours
from the 1900 block of Hughes Way for
conspiracy to commit burglary, possession
of burglary tools, possession of a controlled
substance and possession of drug paraphernalia.
One female adult was arrested at 1957
hours from the 1900 block of Hughes Way for
conspiracy to commit burglary and possession
of burglary tools.
Friday, Jan. 11
A lost property report was taken at 0558
hours from the 500 block of Pacific Coast
Highway. A purse was lost.
A missing person’s report was taken at 1202
hours from the 300 block of Standard Street.
A juvenile was reported missing.
Grand theft occurred on 11/17/18 in the 800
block of Hillcrest Street. A package valued at
$3,000.00 was taken from a porch.
A forgery report was taken at 1248 hours
from the 1200 block of East Imperial Avenue.
A burglary (commercial) report was taken
at 1519 hours from the 800 block of South
Aviation Boulevard. Unknown suspect(s) broke
into a storage unit.
A grand theft report was taken at 1605 hours
from the 600 block of Illinois Court. Unknown
suspect(s) stole a bicycle.
A burglary (residential) report was taken at
1753 hours from the 1600 block of East Maple
Avenue. Unknown suspect(s) stole a bicycle
from a carport.
Saturday, Jan. 12
One female adult was arrested at 0024 hours
from Grand Avenue and Lomita Street for
possession of drug paraphernalia.
One male adult was arrested at 0753 hours
from the 500 block of North Pacific Coast
Highway for criminal threats.
One female adult was arrested at 1050 hours
from the 100 block of Vista Del Mar for arson.
A vandalism report was taken at 1316 hours
from Grand Avenue and Pacific Coast Highway.
Unknown suspect(s) damaged a pipe on the
victim’s premises.
Traffic accident (with injuries) occurred at
1925 hours from the 2000 block of East Park
Place, vehicle versus curb.
Sunday, Jan. 13
One female adult was arrested at 0734 hours
from the 800 block of North Pacific Coast
Highway for domestic violence.
One female adult was arrested at 1253 hours
from the 100 block of South Pacific Coast
Highway for one CHP traffic warrant.
One male adult was arrested at 1809 hours
from McCarthy Court and Walnut Avenue for
public intoxication.
Monday, Jan. 14
A missing/located adult report was taken at
0731 hours from the 300 block of Vista Del
Mar. The subject was released to the reporting
party.
A vandalism report was taken at 1139 hours
from the 100 block of Main Street. Unknown
suspect(s) wrote graffiti on a trash bin.
A burglary (commercial) report was taken
at 1235 hours from the 1900 block of Hughes
Way. Unknown suspect(s) broke into several
storage containers. •