The upcoming mayoral race in Los Angeles has coalesced around an acute housing crisis and the persistent specters of affordability and homelessness. With increasing urgency from both voters and the commercial real estate sector, the pressing question is whether any of the candidates can offer actionable solutions to an electorate that feels stuck in a rut of stagnation and half-measures.
The housing situation in L.A. has become dire; average rents for one-bedroom apartments have skyrocketed nearly 30% since 2020, according to data from Lending Tree. Strikingly, the L.A. region needs to construct a staggering 101,500 new housing units annually to meet state mandates, yet numbers are alarming. In 2024, only about 28,453 units were delivered across the 88 cities of L.A. County, with the City of Los Angeles mirroring this underperformance by issuing a mere 8,714 residential permits in 2025—far from the levels seen a decade ago.
The mood is grim. “Death by a thousand cuts,” is how Gary Benjamin, founder of Alchemy Planning + Land Use, sums it up for the multifamily sector. Recent reports from Northmarq do indicate a moderate softening in operating conditions, but the broader economic pressures—including mounting financing costs—have left developers feeling that their margins are perpetually squeezed.
Candidates in Tension: Three Approaches to Crisis
On June 2, voters will choose between three candidates, each promising change but diverging dramatically in their proposed pathways. Mayor Karen Bass, incumbent and previously hailed for her robust agenda, has faced criticism for adopting a cautious, incremental approach. Critics argue she's faltered on transformative reforms aimed at tackling both homelessness and the housing shortage. “Governing Los Angeles is tough,” notes Joshua Baum of Hilgard Economics. Her actions, prompted by conflicting interests and a challenging fiscal landscape, have resulted in public frustration.
Bass's signature policy, the ED1 program, was intended to stimulate development but has attracted legal challenges and slowed Permitting processes. Although the initial enthusiasm resulted in applications for over 40,000 units, only about 300 have received certificates of occupancy. By limiting permissible project types and locations, Bass has alienated some builder and developer communities who see her as a roadblock.
On the contrary, Councilmember Nithya Raman represents a progressive challenge, attracting supporters with initiatives that promise to drive housing production through more aggressive zoning. Advocates hail her support for SB79, an upzoning measure, and a 4% cap on rent increases. Yet, her past support of Measure ULA—a controversial real estate transfer tax—is still raising eyebrows among investors, even as she works on reforms to mitigate its negative impact on multifamily development.
Raman’s balancing act is delicate; she has to assure developers while keeping tenants satisfied. Avi Sinai, a real estate and eviction attorney, suggests that her policies often favor builders but cast operators in a negative light, creating long-term operational challenges once construction is complete.
Enter Spencer Pratt, an outsider and reality TV figure promising radical changes. His campaign emphasizes dismantling perceived regulatory barriers, particularly concerning housing development, framing the existing policies as outdated and misguided. Interestingly, Pratt has garnered support from significant business figures and developers disenchanted with the current administration's inefficacies. His aggressive stance on homelessness—calling for drastic measures to clear the streets—appears to resonate with frustrated Angelenos who see the lingering impact of homelessness as a blight on the city.
Public Sentiment: Longing for Change
The electorate's mood is one of urgency mixed with exasperation. Many feel that homelessness and crime have spiraled into unmanageable problems, igniting frustration and a broader call for immediate action. Daniel Yukelson of the Apartment Association of Los Angeles indicates a significant shift in landlord sentiment, noting that traditional backers of Democratic candidates are gravitating towards Pratt due to his promises for enhanced public safety and fiscal responsibility.
As voters grapple with their choices, the paths forward challenge traditional notions of housing policy and governance in L.A. The housing and homelessness crises will require whoever assumes office to confront not just local issues but also macroeconomic forces—such as labor and immigration policies from D.C. and rising costs of building materials—that constrain their strategies.
The Stakes Are High
Ultimately, the stakes in this election extend beyond mere politics. Angelenos are not just looking for surface-level changes; they want to overhaul an ineffective housing system that many believe has been overly bureaucratic. Real solutions require more than just a new face in office; they call for genuine reform that empowers developers while also addressing the needs of the community.
The coming election is thus a referendum not just on the three candidates, but also on the direction L.A. will choose regarding its pressing housing issues. Will the city seek to implement substantial change, or will it continue to grapple with half-measures that fail to address the crux of the crisis?
