Everyone agrees, the cost of housing is far too high. Late last year, auditors in Los Angeles sounded an alarm after a review of 1000 units under construction for unhoused individuals averaged $600,000, according to a report in the Los Angeles Times.
This smashes the median home price in the United States, which Business Insider sets at $226,800. Thecost of buying a home has increased significantly since the 1960s, when the median price of a home was $11,900, or $96,681, when adjusted for inflation, according to a Student Loan Hero report.
Well, turns out the auditors were onto something. This week the Los Angeles city controller released another audit saying the average cost of building a single unit of housing for the homeless has risen to $531,000. The auditor recommends rehab motels and open dormitory-style buildings to save money and get people off the streets quickly. Two of the projects average $750,000 per unit. Initial projections four years ago were $350,000 and the rise is blamed in part by rising construction costs.
“We can and must do better,” said Controller Ron Galperin.
This is why Homes 4 the Homeless was started: to find more affordable housing solutions that will help people facing chronic homelessness, temporary homelessness or who have lost their homes to natural disasters. This is why we are encouraged that LA and other hot spots are considering our approach of modular housing.