The UC Berkeley Terner Center for Housing Innovation has released a new Housing Policy Dashboard that enables researchers and policymakers to simulate various policy scenarios for increasing California’s housing supply.
Accompanied with a paper by Casey et al (2022) that models development “proformas” (the financial calculations that determine a building’s viability) with parcel-level data from the City of Los Angeles, the dashboard’s initial findings offer major implications for housing policy reform.
- While six different policy scenarios were modeled, none of them were enough to meet the city’s state-mandated goals under the Regional Housing Need Allocation (RHNA). Thus, “no individual policy change will be sufficient to make up for the city’s significant housing shortfall.”
- However, some policies likely do affect the amount and location of new housing construction. For example, streamlining the permitting process would increase the amount of new housing in high-resource areas, while increasing density citywide would increase the amount of new housing built near public transit.
- Eliminating parking requirements can encourage more new housing projects without necessarily incentivizing larger projects.