I was having dinner with a buddy last week, and we were discussing the issue, as he lives in Mar Vista and I live in Beverly Grove (just recently having moved from Santa Monica). It's become a remarkable problem for the city, and it's hard to convey the impact if you don't live here.
One thing I wondered was how we properly incentivize the city to take steps to manage the situation. Right now, the city brings in $6B in annual revenue (almost 25% of its budget) in property taxes. Despite the remarkable climb in homelessness, property tax revenue continues to climb, because property values are seemingly skyrocketing despite the issue.
As an example, I live on a street where one half of a 100 year old duplex would run > $1M, with dozens of homeless people living within a hundred yards of my house. It's not uncommon for one to walk up and down the street, ringing doorbells asking for assistance, or harassing you as you walk down the street. Never mind the piles of trash & excrement left on the street. I've learned not to drive down the alleyway that runs perpendicular to my street, as it's not uncommon to have people sleep in the middle of the road.
If property values were sinking because of the issue (which in a normal housing market would happen because of safety concerns), the city would be more well incentivized to come up with solutions. But, outside of just citizen complaints, city hall doesn't really have any skin in the game.
Now, you could say, "You're part of the problem. If people like you are willing to move there, you cause the property values to rise." Well, yep, you're right. However, I WANT the city to solve this problem responsibly, and moving away doesn't help me be a part of this solution. I'm hopeful that the sales tax we self-imposed to raise funds to address the issue begin to help, but I'm mostly unimpressed with the changes thus far.
One thing I wondered was how we properly incentivize the city to take steps to manage the situation. Right now, the city brings in $6B in annual revenue (almost 25% of its budget) in property taxes. Despite the remarkable climb in homelessness, property tax revenue continues to climb, because property values are seemingly skyrocketing despite the issue.
As an example, I live on a street where one half of a 100 year old duplex would run > $1M, with dozens of homeless people living within a hundred yards of my house. It's not uncommon for one to walk up and down the street, ringing doorbells asking for assistance, or harassing you as you walk down the street. Never mind the piles of trash & excrement left on the street. I've learned not to drive down the alleyway that runs perpendicular to my street, as it's not uncommon to have people sleep in the middle of the road.
If property values were sinking because of the issue (which in a normal housing market would happen because of safety concerns), the city would be more well incentivized to come up with solutions. But, outside of just citizen complaints, city hall doesn't really have any skin in the game.
Now, you could say, "You're part of the problem. If people like you are willing to move there, you cause the property values to rise." Well, yep, you're right. However, I WANT the city to solve this problem responsibly, and moving away doesn't help me be a part of this solution. I'm hopeful that the sales tax we self-imposed to raise funds to address the issue begin to help, but I'm mostly unimpressed with the changes thus far.