A ballot measure in a special election in Greenwood Village that would have allowed for taller buildings and denser development in the area surrounding Orchard Station failed Tuesday night.
6,092 of Greenwood Village’s approximately 15,000 residents voted in Tuesday’s election, with 1,479 voting in favor of the ballot measure and 4,613 against.
Los Angeles’ version of “Growth vs. Neighborhoods” goes to the vote next week:
Los Angeles is growing up, literally, to the great discomfort of some.
To better understand the battle for the future of Los Angeles, start with a long walk down a dim tunnel beneath the Hall of Administration. In a storage room under Grand Park where the county assessor keeps its map books, the clamor over Measure S — the March 7 ballot initiative aimed at regulating development in the city — seems far away.
Source: High-rises or bungalows? The battle to define L.A.’s character goes to the ballot – LA Times
Most millennials want to live in the suburbs, have already started buying outside urban areas, and base their homebuying decisions mainly on affordability, two new studies say. …A pair of studies released this week suggest that the majority of millennials — the oldest of whom are about 35 — want to live in the suburbs, have already started buying outside urban areas, and base their home-buying decisions mainly on affordability.
Reports by Zillow and Harvard University break with stereotypes of America’s largest generation, namely that they prefer to rent because they favor experiences over building equity and want to live in urban environments.
Read More: Millennials want houses in the suburbs after all, new studies find – LA Times
As rising home prices, slow new home construction, and demographic shifts push homeownership rates to 50-year lows, the U.S. is increasingly a country of renters—and landlords.
Last year, 37 percent of homes sold were acquired by buyers who didn’t live in them, according to tax-assessment data compiled in a new report published by Attom Data Solutions and ClearCapital.com Inc.
Read more: Bloomberg.com