If the market demand is there, why isn't more mixed-use housing getting built? Follow the money.
An acquaintance of mine is trying to decide whether to move to Los Angeles or New York. Having spent most of her life in the Northeast, New York is a familiar city where she has good friends and job connections. However, she can’t help but feel the draw of the West Coast, and on a recent visit to Los Angeles, she was rather keen on settling down in Southern California, especially when she was comparing the rents in L.A. to those in New York. While rents in New York are increasingly stratospheric, L.A.’s are just exorbitantly high.